Blackfinch Property completes £7.3m care residence growth mortgage
Blackfinch Property has accomplished a £7.3 million mortgage, with a mortgage length of 19 months, for use for the acquisition of land and the event of a 71-bedroom care residence in Rubery, a village 9 miles from Birmingham’s metropolis centre.
The three-floor care house is being constructed on a brownfield web site, previously occupied by a now demolished pub.
Gloucester-based Blackfinch Property is a supplier of short-term bridging and growth financing.
John Hartigan, senior funding supervisor at Blackfinch Property, mentioned: “We had been delighted to work with the debtors, Nick and Jamie Sellman from Birmingham-based property developer, City Village Group, and their staff once more on this thrilling growth. As they’d already exchanged on the land buy, funding needed to be put in place rapidly. We had been in a position to step in with mortgage phrases that ensured the acquisition may very well be accomplished and the venture might transfer ahead.
“Given the rising demand for aged care services within the UK, we’re significantly proud to assist revive a disused brownfield web site and assist flip it right into a high-quality care facility that meets the wants of the local people.”
Date printed: March 4, 2022
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