The site – a former tax office – has been cleared and has planning permission for the development of 19 luxury one- and two-bedroom apartments (pictured above).
It will be marketed as Belle Vue Place and is the latest development to be undertaken by APC Developments.
- Lovell and Clarion team up to deliver 100% affordable housing scheme
- Developer secures £1.55m to build seven affordable Cambridge homes
- Major business park development secures planning consent
“We were delighted to support APC Developments on this exciting project,” said Alan Smith, managing director at Bridging Vat.
“It is a text-book example of a developer being able to pay the VAT from their own resources, but with several live projects, choosing to remain in control of their working capital and borrow the VAT instead.
“Now the loan is advanced, all our efforts will switch to recovering the VAT as quickly as possible, minimising APC’s interest costs.”