St Helens

Shawbrook provides funding for historic redevelopment



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Shawbrook Bank is supporting with finance for the first stage of a historic redevelopment project in St Helens, Merseyside.

Paul Nicholson of Luxor Group sought funding through broker Watts Commercial Finance to purchase the Tyrers building before converting it into 15 luxury apartments with associated commercial units.

The next stage of the project will introduce builders to the site with construction work commencing from late April.

Paul said: “It really helps that Watts are so well-versed in Shawbrook’s products and processes, and the bank’s competitive interest rates and loan-to-value policy make them an excellent choice for professional investors.

“Both Watts and Shawbrook understand my strategy and the market to such an extent that I can place my confidence in them to deliver a great outcome for developing my portfolio.”

The Tyrers building opened as a retail space in 1888 before falling on hard times.

Paul now aims to put the building to economic use while retaining the building’s heritage and famous exterior façade.

Phil Gray, managing director at Watts Commercial Finance, added: “With a professional investor such as Paul, it is vital to connect him with a lender that operates via a good sense approach and has a willingness to overcome challenges and hurdles within the application process. 

“I think I can speak for both Shawbrook and Watts in saying that we are both looking forward to seeing the development of Paul’s innovative project for the people of St Helens.”

 

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