Black & White Bridging have provided an £880k bridging facility to support experienced property developers Bedstone Developments with the purchase of a Grade II listed Church in central Bath.
The property, located close to the historical Pulteney Bridge and within the UNESCO world heritage site of central Bath, is set to be converted into nine luxurious apartments plus a restaurant once planning is obtained. Whilst currently empty, the main chapel dates to 1789 and in addition there are a suite of community rooms set out across multiple floors including a basement.
The local owners have completed many similar projects in the region and are highly experienced at regenerating dormant buildings and constructing new dwellings. They were introduced to Black & White Bridging through broker Steve Barrett from Southwest Business Finance.
Steve comments: “This is an exciting development for our client and in a prime location in central Bath. We were delighted to work with Black and White to get this over the line and can’t wait to see the result.”
David Newton of Bedstone Developments said: “We are thrilled to have secured this opportunity with the assistance of Black and White and will be shortly submitting our planning application for this exciting mixed-use development.”
Oliver Bland, Head of Lending at Black & White said: “We fully support projects like this where an unused property will be converted into much needed housing stock and a restaurant. As we are headquartered just outside of Bath, it’s pleasing whenever we complete a deal here. There’s so much potential with this property, I’m really looking forward to seeing the finished product.”
