Long-standing Shoosmiths client Mount Property Group has secured £12m development finance to fund a 574-bed student living scheme in Liverpool.
The £12m will fund the scheme’s completion in September 2020. The 16 and 10-storey project is being constructed by Mount Construction and management contractor Barton Group Services.
Shoosmiths real estate partner Michael Whitworth and senior associate Neil Bradley provided legal advice to Mount Property Group. Tim McNamara and Liana Di Ciacca, partner and senior associate respectively, provided the banking advice, with Rick Atha, construction partner, and Faith McLoughlin, construction trainee solicitor dealing with all construction matters.
Michael said: “I’m very pleased that we are able to offer the full range of services and support to Mount during their significant period of growth. Both myself and my team here at Shoosmiths are looking forward to continuing to work with Mount on their new and existing schemes.”
Neil said: “Working together with Michael and his professional team to secure this development funding within a five-week period is a great result for us and for Mount Property Group. The 576 bed Natex scheme will provide a quality asset for Liverpool’s education sector for years to come.”
Mount Property Group managing director Michael Chrysokhou said: “This is a key milestone for the business and for the student accommodation market in Liverpool. We are looking forward to progressing this great scheme and creating a building the city and its student population will be proud of”.
Mount Property Group is an established and proven property development and investment business based in Liverpool, UK.
As well as its Natex scheme, Mount Property Group has a further six residential schemes in development across the UK.