Property developer Integritas Property Group (IPG) has secured a £5m development loan to fund the next step of a luxury residential development in Liverpool.
The funding from StreamBank has been brokered by GapBridge Capital, and it will allow the completion of the first phase of the Bastion Point development. This comprises 69 one and two-bedroom contemporary high-specification apartments set over seven floors.
Located in Vauxhall, near to Liverpool city centre, Bastion Point comprises a total of 240 one and two-bedroom contemporary high-specification apartments.
Designed by Snow Architects, the development will offer residents a landscaped communal garden, bicycle storage, and a dedicated concierge.
The scheme will include ground floor space for retail units that will be available for use as cafes, shops and other leisure facilities.
All 69 units from the first phase of the development have already been purchased leasehold. Rents are expected to yield 7.5 per cent, and short-term lettings investors yielding upwards of 10 per cent p/a.
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