The residential arm of The Torsion Group will use the funding to acquire land for the project and then to construct these one, two and three-bedroom apartments.

The loan has been structured over a 26-month term at 70% LTGDV.

This development involves regenerating the former Tramways Working Men’s Club, which is adjacent to the historic grave of Dick Turpin.

"We are really pleased to be working with Torsion Group for the third time to deliver this residential development in York city centre,” said Rav Kudhail, lending director at Atelier.

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“Our first two loans to Torsion were to support them on PBSA developments and we are delighted to be working with them this time to develop new residential apartments in York.”

Ian Worthington, managing director at Torsion Homes, added: “Demand for new homes in the city remains strong, and this scheme will deliver much-needed, well-designed apartments in a location that’s well connected and full of character.

“As a group, this is our third loan with Atelier, and once again the team have demonstrated their deep understanding of the development process, moving quickly and collaboratively to get the deal over the line.”