Redwood Bank lends £1.05m for Warrington mixed-use development

Redwood Bank has completed a £1.05m funding package for Buttermarket Properties’ new £1.6m GDV mixed-use project in Warrington.

The facility — agreed at 66% LTGDV over a 25-year term — was used to refinance an existing development loan which had originally enabled the developer to complete the conversion of a former RBS building into 12 one-, two- and three-bedroom properties, and three commercial units.

The deal was introduced to Redwood Bank by Danny Carter, managing director at UK Financial Consultancy Services Limited.

Sue Young, business development manager at Redwood Bank (pictured above) said: “We were thrilled to be able to support a veteran property investor in bringing housing to Warrington town centre.

“Having worked closely with Danny for many years, Neil [Trainer, director at Buttermarket Properties] was able to place his trust in Redwood Bank and allow us to move swiftly to come up with a solution that worked for all parties.”

Neil added: “I’ve been impressed by the can-do attitude shown by Sue and the Redwood team. 

“They find solutions to make things happen and the proactive approach has ensured a swift deal which, in the current property market, is vital.”

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