Funding deal to support new residential development

Commercial finance provider, ASG Finance, is supporting property company Krish Ventures with a multi-million pound loan facility in support of its latest residential scheme.

The deal covers the acquisition and refurbishment of a building on Alfred Gelder Street, Hull, with the upper floors to be transformed into 20 apartments, with the ground floor remaining available for retail or leisure use.

Once completed, the apartments will represent the newest addition to Krish Ventures’ growing residential investment portfolio.

Director of Krish Ventures (GBR) Ltd, Raj Krishnasamy, said: “For our latest property redevelopment, we knew that it was important to find a partner who could offer the right financial package to suit our needs.

“BHP Debt Advisory directed us to ASG Finance and we were immediately impressed by their flexibility, openness and expertise.

“We are very pleased with their services and would certainly not hesitate to work with them again on future projects.”

Mark Heyes, lender and business developer at ASG Finance, said: “Providing a tailor-made financial solution for each and every client is a big part of what we do at ASG Finance, and this project was no exception.

“We’d like to extend our thanks to Mark Storey of BHP Debt Advisory for introducing the deal, as well as to Lyndon Campbell and Christian Hunt at Bevan Brittan for their excellent work in completing the legal aspects.

“It’s always a pleasure to work with a fellow Yorkshire-based business and we are looking forward to supporting Raj during the development phase at Alfred Gelder Street.”