Project Type: A development of 15 homes converted from a listed character barn and situated in a delightful rural location within easy reach of Shrewsbury town centre. The design allows for a mix of one, two and three bedroom homes of between 433sqft and 792sqft including private secure gardens to each.
GDV: In excess of £2 million.
Developer Funding: The client was supported by FBSE with a facility of £550,000 held by a first line charge on a 12 month term and further funding came via a £250,000 mezzanine loan from Calmez.
Summary: This developer client had a track record going back over 20 years and had built a particular expertise in the specialist field of barn conversions.
With Walford Barns the developer has created a stunning series of linked barns around a central courtyard with a mix of one, two and three bedroom accommodation. A clear attention to detail has been shown in both a creative use of the space available but also in preserving the inherent character such as the ancient beams.
Michael Hess who introduced the deal to FBSE commented “FBSE were a pleasure to deal with and unlike many of the other lenders had no issues with the development of a number of barns and the location not being close to London”.