The funding will support the acquisition and renovation of a mixed-use property in central Manchester
Specialist debt advisory firm Arc & Co. and property lender Together have successfully completed their first joint venture, providing a developer with £1.5 million in bridging finance and a £3.4 million development facility.
The funding will support the acquisition and renovation of a mixed-use property in central Manchester over the next two years.
The property, which features commercial space and basement accommodation, is set to be transformed into high-quality serviced office spaces, following already secured planning permissions for a change of use.
“We’re pleased to have advised on and completed the funding for this office development, for a client who is actively looking to grow in the best-in-class commercial space,” said Cameron Hayes (pictured left), director at Arc & Co. “We look forward to working them on their continued journey to deliver quality serviced office space in key cities like Manchester.
“It was our first transaction with Together, and we’re very happy with the outcome. Their team have been fantastic to work with, and we hope to build a long and fruitful relationship for the future.”
Marc Goldberg (pictured right), chief executive of sales and distribution at Together, said the area is a real gem of central Manchester, and it is delighted to be able to help the borrower with the acquisition.
“Working alongside Arc & Co., we have been able to navigate a financial plan that works best for all parties involved,” Goldberg added. “They have been brilliant throughout, and we hope to continue working with them in the future on more exciting projects.”
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