Assetz Capital funds £970k conversion of former care home

Assetz Capital, one of the UK’s leading SME property finance lenders, has provided a £970,000 development finance loan to facilitate the conversion of a former care home into high-quality residential apartments in Crosby, Merseyside.

The funding supports the transformation of a large detached property into seven self-contained units, including one one-bedroom, four two-bedroom, and two three-bedroom apartments.

In addition to enabling the development, the facility also assisted the borrower in refinancing an existing loan, allowing the project to progress with security and momentum.

This deal highlights Assetz Capital’s strength in supporting complex residential refurbishment projects and underlines its commitment to repurposing underutilised property stock into valuable housing assets.

Jake Hiskett, Relationship Director at Assetz Capital, commented:

“We’re proud to have played a part in bringing this redevelopment to life, helping to repurpose an underutilised property into much-needed homes.

This project underlines our expertise in residential refurbishment and our ability to tailor funding solutions for even the most intricate developments.”

Andrew Fraser, Chief Commercial Officer at Assetz Capital, added:

“We’ve now funded the development of close to 2,000 homes across the North West and remain committed to supporting the region’s housing needs.

By leveraging the expertise of our wider team, from Credit to Case Managers, we’re able to facilitate complex, high-impact residential projects like this one.

Our focus on repurposing quality property stock is a testament to our mission to breathe new life into neglected or underutilised buildings.”

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