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Zorin Finance is pleased to announce the successful closure of a development loan within Manchester. With the largest annual residential growth among the ten major cities, Manchester has emerged as the UK’s new property powerhouse, and Zorin Finance is excited to support a scheme which will supply quality residential units to match the strong local demand.
The development is an office to residential conversion of over 60,000 sq. ft across two buildings. The one- and two-bedroom units will comprise a mix of both build-to-rent and build-to sell homes, reflecting the diverse demand for owner occupiers, renters, and investors in this locality. The scheme will also benefit from offering co-working spaces, a gym, amenity space including a lounge, and ample car parking space for residents.
The borrower has an experienced team with strong development and contracting experience, and a proven track record in delivering schemes of a similar nature. The borrower has appointed a Manchester based construction company, already well known to Zorin Finance, to deliver the scheme.
We are delighted to have completed the funding agreement with Zorin Finance on our new project. The development will allow for a new vibrant living area in Greater Manchester. This is the start of our overall masterplan for the site where we intend to offer quality living spaces and fantastic amenities. This supports our vision of developing fantastic communities. It has been a pleasure to work with Tim and the pragmatic Zorin Finance team to conclude this deal and we look forward to working with them again.
Borrower
Thoroughly enjoyed working with the client and supporting a development that will provide a real positive impact on the local community. I, and the wider Zorin team, are already looking forward to our next development together in the pipeline.
Tim Phillips
Lending Director, Zorin
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