Cambridge & Counties has agreed to the equity release of £13m which will be invested in the ongoing refurbishment of Bawtry Hall in South Yorkshire.
The niche property bank has provided the funding to Jason Cooper (pictured above, right), who originally secured funding from Cambridge & Counties for the purchase of the historic building in 2014.
Bawtry Hall was purchased for £1.65m and following a substantial renovation programme, the building is now home to more than 20 businesses and its 15 luxury residential apartments are fully let.
The next wave of renovation will see the addition of eight more apartments.
Bawtry Hall is also set to become a luxury wedding venue in 2018 and the whole property is now valued in excess of £7m.
“Cambridge & Counties Bank and the team I work with – Adam Jolley, Simon Lindley and Mike Kirsopp – have always been very straightforward, pragmatic and highly supportive of our ambitions for Bawtry Hall,” said Jason.
“I have found [that] when Cambridge & Counties agree to fund a deal, the deal gets done in record time and on the exact terms that were agreed.
“We are looking to continue to grow that relationship in the future.”
[caption id="attachment_1972" align="alignnone" width="500"] Bawtry Hall is undergoing refurbishment[/caption]
Bawtry Hall served the Royal Air Force from 1941 to 1984: first as HQ for No 1 Group, Bomber Command during and after the Second World War, then as Strike Command HQ up to and including the later stages of the cold war.
“We have been very impressed with the property and with Jason as a client,” said Adam Jolley, business development manager at Cambridge & Counties (pictured above, left).
“Playing our part in the future of Bawtry Hall is an exciting prospect as its redevelopment continues.”
Legal work for Cambridge & Counties was completed in-house by Sally Smith and the valuer was Martin Nicholson of Nicholson & Co.
Jason was originally introduced to Cambridge & Counties by Andy Churchill of Real Property Finance.
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