The project will deliver 53 one-bed and 16 two-bed flats and a small ground-floor retail unit next to the Waterside regeneration project.
Hilltop Credit Partners, a specialist funding partner for small to medium (SME) residential developers, has completed an £8.7m loan to Mitchian Alliance Limited for the development of 69 residential units in central Leicester.
The project will deliver 53 one-bed and 16 two-bed flats and a small ground-floor retail unit next to the Waterside regeneration project.
All residential units feature bedrooms with Juliet Balconies and are priced within the government’s regional Help To Buy limits.
As part of the regeneration of the local area, which is expected to benefit from £80m of new investment, Leicester City Council is strictly controlling the provision of new-build housing.
Philip Mitchell, electrical contractor at Mitchian Alliance, said: "The team at Hilltop has understood our requirements from the get-go, addressed every stage of the development cycle and simplified the funding process.
"Their model is perfect for us as we embark upon a period of scaling our business.”
Paul Oberschneider, founder and chief executive of Hilltop Credit Partners, said: “A vibrant university city with great connectivity, strong employment credentials and comparatively affordable housing makes Leicester an attractive location for development.
"Within the city centre, the limited supply of residential property adds to a compelling proposition.”
