Loan will fund the building of residential and retirement units, among others
Alternative property lending specialist Zorin Finance has announced the completion of a £22 million development loan to Haslar Developments for the historic Royal Haslar site in Hampshire.
Royal Haslar is a 63-acre former military hospital with numerous Grade II listed Georgian buildings dating back as far as 1753, in a stunning parkland setting, overlooking the Solent.
It is adjacent to the attractive village of Alverstoke and benefits from easy access to Gunwharf Quay in Portsmouth, which is only a short ferry ride away.
Zorin’s loan will fund the remaining completed C2 independent living and retirement units, and develop the next phase of the site with the creation of a further 38 senior living apartments and associated infrastructure works.
Plans are also being advanced to add a high-end gym, pool, and spa area, in addition to a restaurant soon to be provided.
The development is part of a wider plan to regenerate the former Royal Haslar, which will provide a vibrant mixed-use scheme of 270 open market residential units, 244 senior living residential units, a care home, business space, retail, and licensed premises.
These are to be provided within a mixture of new build and existing building conversions all against the backdrop of an extensive historic parkland setting with stunning waterfront views.
Pat Power, director at Haslar Developments Ltd, said they are looking forward to building a successful and long-term relationship with the Zorin team in the development of this multi-phase development.
