British specialist lender OSB Group has provided a significant refinancing package for a property developer in central Manchester. The loan facility totals £25.9 million and serves to restructure the financing of a mixed-use property in the well-known Barclay House.
The funded project comprises 93 residential units alongside additional commercial space on the lower ground floor of the building. The provision of the capital provides the developer with a sustainable long-term structure for the ongoing operation and management of the asset.
High execution speed in the transaction process
A notable aspect of this transaction was the remarkable speed of execution. Only 21 days elapsed from the receipt of the formal loan offer to full legal and financial completion. This highlights the operational capability of the parties involved in complex commercial lending.
The overall duration of the process was also unusually brief. Just over a month passed between the initial introduction of the deal to OSB Group and the actual drawdown of funds. Such rapid turnaround is regarded as notable in the current market environment for transactions of this scale.
Key figures of the financing at a glance
- —Financing volume: £25.9 million
- —Property: Barclay House in Manchester
- —Use profile: 93 apartments and lower ground floor commercial units
- —Turnaround time: 21 days from formal offer to completion
The transaction demonstrates that well-structured residential and commercial projects in established UK regional hubs continue to find dependable liquidity and agile financing partners. With this completion, OSB Group underlines its role as a key provider of institutional debt capital for demanding standing asset and regeneration projects across the United Kingdom.
