Aldermore funds Grade II-listed property conversion
By Simon Knowles, head of property development
Cheltenham-based property developer, Cape Homes, has completed the conversion of the historic Albion House building into 22 new apartments in Gloucester, with the support of a £1.7m property development facility provided by specialist bank, Aldermore.
Established in 2000, Cape Homes has built a reputation of designing and constructing high-quality homes in Cheltenham, Gloucester and the surrounding Cotswolds. The company is now creating over 30 new contemporary and classic homes a year for these regions.
Albion House, a Grade II-listed Victorian building, is located next to the Gloucester quays and was purchased by Cape Homes in 2015. The project involved the demolition and alterations to the listed building, along with its adjoining structures, resulting in the development of nine apartments within Albion House, two apartments within the Coach House, a terrace of four dwellings, as well as a four-storey block comprising seven apartments at the rear courtyard.
Simon Knowles, head of property development at Aldermore, said: “Over the past 17 years Cape Homes has been delivering high-quality housing in the Gloucestershire region and we are delighted that we could offer support for the development of 22 new apartments at Albion House. We are pleased to have supported Cape Homes, especially at a time when developers are playing such an important role in delivering the housing the country desperately needs to tackle the serious lack of new homes.”
Mark Holland, managing director and founder of Cape Homes, said: “We’re really delighted to have finalised our new development at Albion House and offer 22 new homes to the people of Gloucester. Having previously worked with Aldermore on a development in Cheltenham, we understand the tailored service the Bank provides which we knew would meet our needs for this project too. We found Aldermore extremely easy to work with throughout the whole process and the team demonstrated a strong desire to help us with a bespoke loan, in a short space of time. The flexibility has allowed us to have access to funds that will help support our business and provide much-needed further housing to the community.”