Amicus funds £9m Manchester Hall deal
Amicus Property Finance has provided funding totalling just over £9m (at 55% LTGDV) to take the conversion of the former Freemasons Hall to the next level of refurbishment.
The iconic grade II listed limestone building, which received a Gold Medal from RIBA for the design in 1930, is a well-known landmark building at the heart of Manchester’s vibrant centre on the edge of the “Spinningfields” development; the largest development of its kind in Europe and home to 130 commercial organisations, 32 restaurants, bars and cafes.
Once completed, the property will provide space for a number of restaurants on the stylish and, highly decorated ground floor. The entire first and second floor will be refurbished to include a five star conference and events centre – the operator intends the venue to be the premier choice for corporate events in Manchester. With four distinctive restaurant groups already signed up to take space, the development will be topped-off with roof terrace bars with a 360-degree panorama of the Manchester City Centre skyline.
Stephen Cliff, owner of Manchester Hall said: “Yasin Patel and the team at Amicus Property Finance in Manchester understood the complexities of this high profile refurbishment and tailored the financing we need to complete the final phase of the project. The final phase includes Manchester’s largest roof terrace, which will accommodate enclosed bars, restaurants, conferencing, events space, and external terraces. Elsewhere in the building there will be 6 boutique bedrooms and something else that is to “remain a secret”. We are very excited for the final unveil of Manchester Hall which is expected to be before the summer of next year”.
Yasin Patel, regional director of Amicus Property Finance, added: “Manchester Hall has always had a significant place in Manchester’s history, so to be part of a project that will breathe new life into such an iconic city centre building is a special project for the Manchester Amicus Property Finance office to be involved. We are looking forward to seeing the end result and helping Stephen and his team realise their vision for this landmark development”.