The Ivy in Liverpool benefits from £1.7m bridging loan

Together and Watts Commercial Finance have chipped in to enable JSM Property Group’s conversion of the former Bank of England building into the newest location for the popular restaurant chain.

The two financiers have provided a nearly £1.7m bridging loan for the project.

Place understands that The Ivy is targeting an October opening date.

When it does open, it will be The Ivy’s first foray into Liverpool.

Occupying the long vacant, grade one-listed structure is a sure way to ensure the restaurant makes a splash.

The former Bank of England building was designed by architect Charles Robert Cockrell in the 1840s. Its four storeys proudly sit on the corner of Castle Street and Cook Street in Liverpool.

Marc Goldberg, chief executive of Together, acknowledged the location’s appeal.

“We have seen so many iconic properties across the UK sitting empty and disused, and we are delighted to have been able to support the conversion of the beautiful Bank of England into a site for The Ivy,” he said.

“We recently conducted research that found there were currently 1.55m properties sat derelict in England and Wales, and we hope to see more developers taking advantage of these opportunities to bring such properties back to life,” Goldberg continued.

Watts senior commercial manager, Mark Jerman, added:  “Watts Commercial Finance and Together were delighted to continue to support their long-standing mutual client JSM Property Group with the expansion of their property portfolio. The continued support demonstrates the deep understanding of the business and trust in their ability to deliver at the highest level.”

Planning permission for The Ivy was secured last month from the city council, with the assistance of planner Pegasus Group.