Manchester

Amicus Property Finance to fund three northern developments after Manchester office launch




Amicus Property Finance has revealed that it is working on three new developments in the North of England following its expansion into Manchester earlier this month.

Among the deals is a part-conversion scheme in the Northern Quarter of Leeds city centre, which will transform an existing office building into 60 apartments with a further 19 in an adjoining new-build section.

The project has an estimated gross development value of £12.2m and a build cost of £7.2m.

Shoaib Bux, divisional director at Amicus Property Finance, said: "We’ve seen high levels of interest from the North, particularly from direct clients.

“Property development is often a complex process and we always look to deliver a solution that actively works with all our stakeholder partners.

“We build our most successful deals on the bedrock of effective collaboration and strong localised personal relationships.”

The firm is also working on a 127-bed student accommodation development in Sheffield, with an estimated GDV of £8.34m and a build cost of £5m.

Work will begin on the project in the first quarter of 2017.

Meanwhile, a third development includes a £1m refinance facility for a residential site in central Manchester.

“The opening of the Manchester office means that we have a strong on the ground base to fund local projects and service clients who are often overlooked by more mainstream lenders,” Shoaib added.

“Manchester is the capital of the Northern Powerhouse and a part of the UK that is seeing high levels of growth despite uncertainty surrounding Brexit.

“Our expansion reflects our commitment to providing the highest quality of service to our clients and to our intermediary partners on a localised basis.”

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