PJ Livesey secures £10m Santander fund
Trafford Park-based residential development and conversion specialist PJ Livesey Group is to expand its portfolio following a £10m lending facility from Santander Corporate & Commercial.
Founded in 1979 by Peter Livesey and employing 100 staff and 200 subcontractors, the firm has built a reputation for the renovation and restoration of period and grade two-listed buildings across the UK.
PJ Livesey is about to launch the conversion of Lancaster Moor, a £67m project in Lancaster being carried out in partnership with the Homes & Communities Agency and is also opening new sites at Parkgate, Otley and Beverley.
The group was advised by Sam Rollason from Pinsent Masons, Manchester, and Anne Irwin from Slater Heelis, with Matt Christmas from DLA Manchester advising Santander UK. The substantial new lending facility will enable the management to seize new business opportunities and to take the business on to its next phase of growth.
Peter Livesey, managing director of PJ Livesey Group, said: "This funding deal allows us the security to move forwards and act swiftly when suitable sites become available. Having weathered the recession, we are now in a strong position to pursue controlled growth and are eagerly seeking new opportunities."
Matt Jones, relationship director of Santander Corporate & Commercial, said: "Peter and the management team have very strong experience in this market. The group has an exceptional reputation for craftsmanship."