Starship Group secures development facility with BFS
Starship Group has secured its fifth development facility with Bridging Finance Solutions (BFS) to finance the firm’s latest luxury housing scheme.
BFS has confirmed a £2.5m loan to finance the acquisition of both the land and all associated build costs, providing a complete and flexible funding package for the group.
Plans have been secured to demolish the former doctor’s surgery in Heswall, Wirral and replace it with nine luxury apartments.
The estimated value of the development once complete is expected to be in the region of £3.1m.
Steve Barber, managing director of BFS explained: “We have completed a number of deals with this client in the past and have huge confidence in their knowledge, understanding and capabilities.
“We were able to take an independent view on their borrowing request and have agreed to finance the entire deal.
“The site is in a great location, very close to the town centre and the apartments are designed to a particularly high specification offering strong returns on investment.
“We look forward to working closely with the client throughout the construction phase through to spring when the homes are scheduled for completion.”
A Starship Group spokesperson added: “We have built a solid working relationship with BFS over many years.
“This is a great scheme and we now have all the foundations in place to get things moving in terms of construction in the weeks ahead.”