Assetz Capital has funded a £970,000 development finance loan to transform a former care home in Crosby, Merseyside, into high-quality residential apartments

Assetz Capital, a leading UK property finance provider for SMEs, has funded a £970,000 development finance loan to transform a former care home in Crosby, Merseyside, into high-quality residential apartments.

Unlocking the potential of underused property

The loan also enabled the borrower to refinance an existing facility, creating a stable foundation for the project’s continued success.

The newly funded scheme will see the conversion of a large, detached former care facility into seven modern, self-contained flats. The unit breakdown includes:

• 1 x one-bedroom apartment
• 4 x two-bedroom apartments
• 2 x three-bedroom apartments

Specialist support for complex redevelopments

This deal underscores Assetz Capital’s ability to support complex residential refurbishment and conversion projects. The flexibility of the funding structure reflects the lender’s commitment to helping developers unlock value from underutilised property stock.

Jake Hiskett, Relationship Director at Assetz Capital, who led the deal, commented “We’re proud to have played a part in bringing this redevelopment to life, helping to repurpose an underutilised property into much-needed homes. This project underlines our expertise in residential refurbishment and our ability to tailor funding solutions for even the most intricate developments.”

Regeneration for the community

Beyond creating homes, the project aligns with Assetz Capital’s broader mission to contribute to community regeneration by bringing disused buildings back into productive use. This approach reflects a growing focus in the UK property sector on sustainable, adaptive reuse.

Andrew Fraser, Chief Commercial Officer at Assetz Capital, added “We’ve now funded the development of close to 2,000 homes across the North West and remain committed to supporting the region’s housing needs. By leveraging the expertise of our wider team—from Credit to Case Managers—we’re able to facilitate complex, high-impact residential projects like this one. Our focus on repurposing quality property stock is a testament to our mission to breathe new life into neglected or underutilised buildings.”

A trusted partner for developer-led solutions

With this latest funding milestone, Assetz Capital reinforces its role as a reliable and responsive funding partner for property developers across the UK. The company continues to provide innovative financing solutions that fuel local housing growth and urban revitalisation.

This transaction reinforces Assetz Capital’s reputation as a responsive and trusted lending partner. By backing experienced developers and flexible financing solutions, we continue to support the growth of local communities through meaningful housing development.

If you have a development finance project that needs funding, then we’re here to help. Simply call our New Business Team on 0800 470 0430. Or email them using [email protected].

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