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Zorin Finance is pleased to announce the completion of a new £15m development loan secured against a landmark former department store in Kingston‑Upon‑Hull, East Yorkshire.
The facility will support the acquisition and redevelopment of the former Debenhams, creating 178 new residential apartments across 5 floors, with a central atrium and a small parking area.
Located on Prospect Street, the building occupies a prime position in Hull city centre’s retail and commercial district. It also benefits from close proximity to Hull Train Station, which provides frequent services to Leeds, Sheffield and London King’s Cross.
Having attracted £4bn of investment over the past decade, Hull is undergoing significant regeneration. This momentum is driving a pronounced increase in residential development, with new schemes emerging and existing city‑centre buildings, such as the former Debenhams, being repurposed for modern living.
The borrower, DBG Group, will act as both principal developer and contractor, drawing on more than 30 years of experience delivering high‑quality new builds and refurbishments. Their online presence has already generated positive regional coverage for the scheme, including reports from BBC Look North, Place Yorkshire and Hull What’s On.
We’re proud to bring the former Debenhams building back into use with 178 new apartments, helping to revitalise Hull city centre. This project balances regeneration with preservation—retaining retail at ground level while introducing much-needed homes. With the support of Zorin Finance, we’ve been able to unlock the potential of this landmark building, delivering a sustainable scheme that supports local businesses and restores confidence in the heart of Hull.
Tom Danby
Managing Director, DBG Group
We are delighted to support DBG with this landmark development, repurposing the building to create high‑quality, modern apartments during a period of significant investment and regeneration. We are looking forward to working closely with the team at DBG as they progress their plans for the site.
George Cresswell
Lending Manager, Zorin
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