PMJ Capital completes £1.6m development loan for new Co-op store in Cheshire

PMJ Capital has provided a £1.6m development loan for a £2.9m GDV commercial scheme in Cheshire, a joint venture between Lane End Group and Williams Tarr.

The 12-month term development loan, agreed at 55% LTGDV and 80% LTC, will fund the construction of a Co-op convenience store and five other retail units in Sandymoor, Halton.

Work is expected to take around 10 months, with completion due in January 2022.

Lee Barton, development director at PMJ Capital, said: “This is the second project we’ve worked on with the team at Lane End and we are delighted to be able to support them once again.”

Scott Ashall, director at Lane End, added: “Having worked with PMJ on a recent development for a new Costa Coffee in Northwich, it was the first we called on when we embarked on this new project.

“We see PMJ as a key part of our team, it provides a real partnership approach to development funding, completely simplifying the process.

“This new scheme will provide local facilities to support the thousands of residents living in Sandymoor. 

“Once complete, the residents will have the benefit of new Co-Op convenience store, a veterinary surgery, which will be operated by North Star Vets, and we are also hoping to announce two further occupiers shortly, which will leave us with just two retail units being available.”

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