A peer-to-peer lending specialist has completed a £3.2 million development loan for 30 new luxury Derbyshire homes through the government-backed CBILS scheme.
Assetz Capital is helping developer Ryton Park Homes restore a former school in Worksop creating 26 new mews houses and four apartments aimed at the over-55s market.
The 1920s building – which has been identified as a ‘heritage asset’ but has suffered from anti-social behaviour in recent years – has been empty since the school closed in 2014. The loan has funded the construction and land acquisition costs.
CBILS was created by the government in association with British Business Bank to support the continued provision of finance to SMEs during the Covid-19 pandemic.
The scheme has already provided 98,344 loans worth £23.8 billion to UK businesses.
link source - Business Live News