Developer bolsters renovation project
Developer AKV Group has secured a £500,000 refinancing package from Santander Corporate & Commercial to enable it to redevelop the Grade II-listed Teesdale House in Barnard Castle, County Durham, into homes and apartments.
The building was previously the headquarters of Teesdale District Council. AKV has already sold three homes in phase 1 of the development and will use the cash backing to start the next phase of work.
Law firm Swinburne Maddison advised AKV on the refinancing agreement with Santander.
Vanessa Collins, relationship director, Santander Corporate & Commercial, commented: 'We are pleased we have been able to provide financial support to enable the next phase of this successful residential development to get underway. AKV is providing much needed housing within the Barnard Castle area and phase one of the scheme has been very popular with all units already sold'.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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