Phase one of the development saw the conversion of the main grade II-listed building into 140 units, which have already been delivered and sold.

The 18-month term loan for the £16m-plus GDV development covers the continuing build-out of the site, including the ground up development of residential units and conversion of an existing building, with the exit being pre-sale.

The site is situated to the north-west of Bradford, in a predominantly residential area with nearby access to a golf course, sports centre and two schools.

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This is one of over 30 new development finance facilities that CrowdProperty has funded since the start of 2023, totalling £85m GDV.

Andrew Hall, property director at CrowdProperty, said: “In these times of economic uncertainty, we are delighted to be able to support high quality development projects such as this.

“Our diverse sources of capital enable us to offer greater reliability of funding to SME developers and we look forward to helping even more property professionals achieve their development goals.”