London Wall Finances 91 New Homes In Bristol
London Wall Lending has completed an £18m development loan to MCR Property Group to fund 91 new homes in Bristol.
The funding will be used to finance the development of the new-build properties on a former brownfield site, which was previously used as a car park at Parkview Campus in Bristol.
The entire Parkview Campus site, two miles south of Bristol city centre, is currently in phase two of a significant redevelopment project which is turning it from an office hub into new residential neighbourhood.
MCR’s development will comprise 91 residential units, a combination of apartments and three-bedroom family homes, with 27 available as affordable homes.
Ned El-Imad, partner at London Wall Lending, said: “There is a lack of high-quality properties in prime city locations across the UK, so we are pleased to have been able to provide this development loan to MCR Property Group helping to address this need. We continue to see significant opportunity to back more family-led housing developments around the UK, and we’re ready to do so by providing an efficient and straightforward route to capital.”
Harry Ladds, asset manager at MCR Property Group, said: “Parkview has already proved hugely popular with local buyers, and we are very pleased to be delivering this much needed development, designed to meet the diverse requirements of the local market.