This project is a retained interest bridge facility totalling £500,000 with a phase 1 release of £250,000 gross. Interest to the lenders will be paid monthly. The land at Ellesmere Road Shrewsbury SY1 2QR is a green field site of approx. 1.97 acres with access directly off the adopted highway. The land is situated on the northern edge of Shrewsbury City Centre, Shropshire's county town with a population of about 70,000. Connections to the motorway network is via the M54 whilst Shrewsbury also has direct rail access to London Euston - 2.5 hours. Outline planning permission ref. 18/02660/REF was secured at appeal in January 2019 for the construction of 36 no. residential apartments. The design is in 3 x 4 storey blocks providing a mix of 6 x 1 bed, 25 x 2 bed and 5 x 3 bed. 5 units in the development will be sold as affordable units as part of the S106 Agreement. With the site sloping from east to west the architects have designed the blocks with the aspect from Ellesmere Road giving the look of a 2 storey building. The design also allows for undercroft parking in part. To the western part of the site is an ecology pool and wildlife sanctuary which is protected and will remain undisturbed during the development.
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