The funds will be used to acquire the site and repurpose the land from its current tenure.

The client, who has multiple sites nationwide, was set a strict deadline to complete the purchase and required a high LTV.

The facility was provided by a US-based hedge fund on a three-year term, with an initial drawdown of £76m, equating to an 80% LTV.

The balance will be drawn upon attaining certain planning permissions.

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Sean Adams, private client director at Arc & Co (pictured above), said: “This was a complicated funding proposition with many moving parts, but to get from application to completion in just over six weeks was quite a feat.  

“This was thanks to a very engaging client and an extremely proactive funder.  

“We look forward to completing further funding transactions for this client.”