Assetz Capital has provided £5.5 million in development finance to convert a vacant former college building in Woolton, Liverpool, into 18 residential apartments.
The 18-month facility, structured at approximately 58% loan-to-value, will fund the demolition of the existing structure on Beaconsfield Road and construction of a mixed-unit development comprising six three-bedroom, seven two-bedroom, and five one-bedroom apartments.
Site background and security
The building, formerly known as Community House, previously provided accommodation for teachers at neighbouring schools and has remained vacant since 2021. A residential property valued at £1.2 million at the site entrance serves as additional security, reducing leverage against the encumbered asset.
The financing arrangement forms part of a broader project that includes plans to subdivide a newly acquired site for the construction of two houses, each measuring approximately 4,000 square feet.
Mark Roberts, relationship director at Assetz Capital, said the facility demonstrates the lender’s approach to supporting small and medium-sized developers with residential projects. The deal reflects ongoing activity in the development finance sector, which has seen increased demand from property professionals seeking flexible funding solutions.
Market context
The transaction comes as specialist lenders continue to support residential development projects across UK regional markets. Development finance facilities typically range from 50% to 70% loan-to-value, with terms varying based on project complexity and borrower experience.
The Woolton development will add to Liverpool’s residential stock in an area characterised by period properties and suburban amenities. The scheme’s mix of unit sizes targets a range of potential buyers or tenants in the local market.
