Development Finance for £22M GDV Scheme
The Brightfield Group are an experienced group of property developers who focus on commercial to residential conversions under the Government's Permitted Development scheme. They required finance for a £22 million GDV development in central Peterborough.
Bayard Place is an office building in Peterborough City centre with 61,634 sq. ft of accommodation over the ground and upper four floors. The building was formerly owned by Peterborough City Council who were in the process of a large-scale office relocation. Brightfield Group obtained permitted development for 88 units and sought planning for an additional 14 penthouse, duplex apartments on the upper floors. This project will transform an iconic building and have a significant impact on regeneration of the city centre.
Pilot Fish sourced the senior and the mezzanine debt as well as part-funded the equity via our Private Investors Club (a private investment platform for HNWI's). The development team moved on to site in April 2019 and expected development completion date is March 2021. Bayard Place will be transformed into 102 luxury apartments in the heart of Peterborough.
This Scheme was part-funded by The Pilot Fish Investors Club, a private investment platform. The Club connects property developers with property investors. Our members receive exclusive investment opportunities and have access to a diverse range of projects.