London business loans supplier raises £30m funding for UK mixed-use developments

The Route - Finance has raised a further £30m for the funding of eight UK developments.

The loans, funded by The Route’s Membership base of institutional and investors, will finance various stages of development for eight residential and mixed-use projects in locations including Liverpool, Ascot, Luton and Perthshire, Scotland, amongst others.

Once complete, the combined GDV of the developments will be over £150m. The largest of the schemes is Baltic View, a development from Crossfield Exclusive Developments at Liverpool’s Baltic Quarter.

Set for completion in 2020 and with a GDV of over £20m, The Route - Finance’s latest £2.6m loan, part of a £12.6m total facility, will develop the next phase of the project comprising 130 residential apartments and nine office units.

Richard Admiraal, director and owner of The Route - City wealth club, said: “The Route’s Secured Loan portfolio continues to go from strength to strength as a result of the relationship built with our members and established track record in delivering funds as a lender in the alternative finance market.

“We are especially pleased with our involvement in the Glenisla Village project, which illustrates The Route - Finance’s growing maturity in a sector that is in need of significant investment.”

The Route - Finance has also funded a further £3m as part of its £8.2m financing package with Glenisla Developments in order to advance its care home scheme in Perthshire.

The development will comprise a total of 60 dementia care home units, 3 business units and 20 bungalows and houses for the elderly with care needs.

The care facility is planned to become part of the wider Glenisla Village, which will play host to over 200 apartments and houses, a golf course, hotel and further business premises.

The next £5m instalment with Acre Invest has also been confirmed to develop the final phase of its mixed-use scheme in the fast-emerging Luton.

The South East commuter hub is undergoing a 20-year £1.5bn regeneration programme that will provide housing, commercial and leisure facilities across eight strategic development sites.

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