Bridging Finance Solutions (BFS) has completed its largest development loan to date – a £3.7million facility for a high-end, mixed use scheme in Wirral for Starship Group.
The deal marks the sixth loan for the Wirral-based developers who will use the funds partially towards the purchase of a large vacant commercial unit in West Kirby, followed by funding construction and development works.
The former M&Co building on Dee Lane is set to be renamed, ‘Sandlea View’, and will include two zero-carbon commercial units at ground floor and eight luxury apartments across the three upper floors.
Demolition of the existing building is set to begin imminently, and the project will take some 14 months to complete.
The scheme is set in the heart of West Kirby, and the apartments will be delivered to a luxury specification with very high levels of energy efficiency.
Starship is renowned for using some of the latest building innovations and technologies and will be using a whole range of new methods to create this groundbreaking building.
Steve Barber, Managing Director of BFS commented, “This is a brilliant scheme for us, marking not only our largest facility to date, but the sixth loan for Starship.
“These guys are seasoned developers and have already created some brilliant schemes – we’re pleased to be able to help fund this latest and look forward to working alongside them as the build gathers pace.”
Upon completion, the development is expected to be valued at £5.35millon.
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