Finance secured to resurrect stalled Liverpool resi
Having purchased the site out of administration in 2023, Mellior Group has secured a £3.6m loan from Recognise Bank to kickstart the 365-apartment scheme, located in the city’s Fabric District.
Meillor Group, a venture from former Crossfield director David Cain, redesigned the project last year to address “deliverability issues” and to “respond to market changes, and generally improve the consented scheme”.
The developer reduced the number of homes to 365 from 419.
Recognise Bank has now provided the firm with a bridging loan. Courtney Orange, business development manager at the bank, said: “We are proud to have supported David Cain with this significant bridging loan.
“Speed and certainty are critical in bridging finance, and this deal demonstrates Recognise Bank’s credentials.”
The loan was led by Courtney Orange and loan manager Stephen Faulkner, who worked with broker Sinead Cowgill, director of Eight Finance Group.
Prior to Mellior’s involvement, the site was being developed by YPG. YPG Investar Islington House and YPG Fabric Residence collapsed into administration in 2021.
The scheme’s architect is Paddock Johnson, while Pegasus is advising on planning matters.
To learn more about the project, search for reference number 24NM/2890 on Liverpool City Council’s planning portal.
