Fortwell Capital

Fortwell Capital completes £55m development loan

Fortwell Capital has completed a £55m development finance facility to Cole Waterhouse for a residential development near Old Trafford stadium.

The loan will enable the construction of No 1 Old Trafford opposite the home ground of Manchester United Football Club.

Work on the 354-apartment scheme is expected to be completed in Q1 2021.

Arthur Jennings, managing director at Fortwell Capital, said: “Loans of this size and scope underline not only the capital we have available to deploy, but also our appetite for regional development opportunities.

“Our team’s genuine understanding — of both debt financing and the underlying real estate proposition — makes us well placed to act quickly and capitalise on opportunities as they arise.

“We look forward to working with Cole Waterhouse and ensuring the successful development of this first-class scheme.”

Damian Flood, CEO at developer Cole Waterhouse, added: “The expertise and insight that Fortwell Capital brings to the table makes them our financing partner of choice for schemes such as this, and the team’s support will be crucial in delivering this prestigious development.”

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