The development has a GDV of £17.3m and the loan and took Zorin five weeks to complete.

The conversion of the former printing press in Manchester’s NOMA district will be delivered as part of a JV between the Parklane Group and Salboy Ltd, with work commencing imminently.

The Parklane Group’s newly launched Homezzz brand will deliver the scheme, which will feature New York-style loft apartments and many of the building’s original features – such as exposed brick and ironwork, high ceilings and large windows – will be retained as part of the development.

Gavin Morrison, director of loan origination at Zorin Finance, said that it was delighted to be working with such strong sponsors on the conversion of the building.

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“While there are many residential schemes currently underway in Manchester, Zorin chose to support this one as it will breathe new life into a landmark building and offer apartments with unique period features not available on similar new-build developments.

“We look forward to supporting our developer clients on other projects across the UK in 2019.”

Javed Saddique, director at Homezzz, added: “With Homezzz a fast-growing company, Zorin shared our vision, not only for The Press, but our plans going forward. 

“Having a strategic partner to help our growth was just as important as the project itself.

“We found Zorin to be extremely receptive to our requirements and are excited to be working with the Zorin team in delivering class-leading PRS projects going forward.”