CapitalRise Closes Development Loan for High-End Barn Conversion in Prime Cheshire
Specialist prime property finance firm, CapitalRise, announces a new development loan to support the completion of a luxury barn conversion in Cheshire. The project is close the region’s renowned ‘Golden Triangle’ – an area known for its concentration of high-value homes, and famous and affluent residents.
This marks CapitalRise’s first transaction in the North-West of England, as the firm continues to expand beyond its historic focus on London and the South East – an area in which it continues to specialise.
Alongside this loan, recent deals in Bath, Gloucester, the Cotswolds, and Cambridgeshire reflect CapitalRise’s growing commitment to supporting high-end real estate projects in a wider range of desirable locations.
The property is a part-built barn conversion, a type of project that many lenders would be unwilling or unable to support mid-construction. However, CapitalRise’s deep expertise in high-end real estate – having been founded by prime property developers – enabled the team to step in part-way through the project and structure a bespoke facility tailored to the borrower’s needs.
The undisclosed loan amount was agreed at a Loan-to-Value (LTV) at exit of 68%, and will allow the borrower to complete the development works and landscape the gardens.
The finished home will be arranged over two storeys and will feature a detached double garage. Full planning permission has already been granted for the scheme.
The borrowers are specialists in the local area, with one having completed over 40 high-end single-unit development projects in Cheshire’s ‘Golden Triangle’. The region boasts a pleasant countryside setting that is popular with Premier League footballers, wealthy businesspeople, and entertainment industry figures. Another of the borrowers has delivered three high-value homes, and together the team brings a formidable track record of delivering luxury residential schemes.
The deal was originated by Lee Francis, Head of Origination at CapitalRise, who commented:
“We’re proud to support this exceptional project in one of the UK’s most prestigious residential regions. This area is synonymous with luxury living, and this deal reflects our ability to fund high-quality developments – even when they are part-way through construction.
“It’s been a pleasure working with such experienced borrowers, and I’d like to thank David Hall at Oriel Finance for the introduction and Max Brady, Senior Credit Analyst here at CapitalRise, for his outstanding support throughout.”
This transaction reinforces CapitalRise’s commitment to funding prime residential projects across a growing range of locations. As the firm continues to diversify its loan book, it remains focused on delivering bespoke finance solutions for experienced borrowers.
