Assetz Capital funds luxury development in Harrogate

By Bridging Loan Directory 11th April 2022

Specialist marketplace lender Assetz Capital have provided a development facility up to £3m to assist borrower Tate Estates to complete their site of exclusive apartments in Harrogate, Yorkshire.

The client had experienced trouble with the build due to the Covid-19 lockdowns and the construction material shortage, which initially disrupted the schedule of building work.

Thanks to the development funding from Assetz, the site is now part-built, and the scheme is set to provide high-end accommodation in a fantastic setting in central Harrogate close to The Stray, with excellent transport links via rail and road.

The apartment complex will comprise of 2-bedroom apartments finished to an incredibly high standard. The remaining build programme will see the scheme brought to market in q2 of 2022.

Ciaran McGivern, Relationship Director for Assetz based in the Northeast, was introduced to the client by Chris Silverwood of CorpFin, who acts as a retained advisor for Tate Estates.

Ciaran said:

“This is my first completion at Assetz, so I’m delighted to be helping a high-quality client in Tate Estates with their luxurious development in Harrogate.

We hope to continue the excellent working relationship we have established, and that this is the first of many successful deals we can fund.”

Rhys Davies, Group Finance Director said:

“It was fantastic to get this investment from Assetz on what will be the first in a series of platform development deals.

We look forward to working with the team at Assetz on this development and going forward into the future”.