Property finance firm commits £1.35m to final phase of Lakes scheme
Bolton based specialist property finance company PMJ Capital has agreed to fully fund the build cost of £1.35m for the third and final phase of a 20-unit development known as ‘Low Wood’ in Casterton near Kirby Lonsdale.
PMJ has been working with developer Waypoint Development and Construction for the past three years on all phases, including the acquisition of the £1.8m building, an old school, back in 2018.
Waypoint has now delivered a total of eight homes at Casterton which are all fully sold.
The third and final phase of development will produce 12 apartments and cottages with build work already under way.
Tony Stubbs, Waypoint Development and Construction managing director, said: “Dave and the team at PMJ are a very supportive development partner.
“We have been working with them for a number of years now and they have been an instrumental part of the development’s success.
“Not only has PMJ provided the funding to enable us to start and continue work at Casterton, but its committed approach and support has provided that sounding board as we’ve developed the scheme.”
David Rainford, managing director of PMJ Capital, said: “From navigating a complex planning process and attention to detail in delivering a superb end product, Tony and his team have brought life back into the old school buildings and we look forward to sharing in his success across the final phase of this development.”
Current progress on the Casterton site
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