A Liverpool-based student and residential property specialist is seeking new investment opportunities after securing a £27m refinance deal with Lloyds Bank on its city centre student site.
Carpenter Investments has secured the funding against Hardman House, a multi-use development including accommodation for 355 students and a 40,000 sq ft Liverpool John Moores University faculty and education building, which opened in 2020.
The three-year deal will help Carpenter Investments build on its existing £150m portfolio of student, commercial and private residential developments.
Carpenter Investments has now completed 18 developments since being founded in 2010, including more than £65m of new buildings in Liverpool’s Knowledge Quarter.
Carpenter Investments is also the parent company of L7 Architects, construction firm Carpenter Build, and Urban Sleep, which manages the group’s student accommodation and residential apartments.
Alan Beer, managing director at Carpenter Investments, said: "Hardman House was a significant milestone for Carpenter Investments, but we’re not standing still.
"We’re already working on some really exciting and creative plans that will be transformative for another landmark site in the city, and we are actively seeking new locations to build.
"This new facility from Lloyds Bank is a show of faith in the prospects of the city region’s property sector and the plans we have at Carpenter Investments as we look to support the economic recovery and the return of students to Liverpool."
Richard Butterfield, relationship manager at Lloyds Bank, added: "Carpenter Investments has an experienced management team and a strong track record of delivering both student and private residential investment assets across Liverpool and the North West.
"Hardman House stands out because of its enviable location adjacent to the Liverpool John Moores University campus, providing quality accommodation for students and the university alike.
"Covid-19 has presented some extremely difficult challenges for the student sector, which is so important to the North West economy, but I’m confident we’ll see it bounce back.
"Lloyds Bank remains committed to being by the side of businesses through the recovery and beyond."
Carpenter Investments was advised on the transaction by Hill Dickinson. Shoosmiths advised Lloyds Bank.
