Harcourt secures £40m Tobacco Warehouse funding
Real estate lender Qsix is providing finance to complete phase one of Liverpool MIPIM partner Harcourt Developments’ mixed-use conversion of the 1.4m sq ft Liverpool building.
The first phase of the Stanley Dock project comprises 192 apartments and 28,500 sq ft of ground floor commercial space. Construction is underway and the first residents are expected to move in this summer, following the agreement of the £40m facility from Qsix Real Estate Finance.
Overall, Dublin-based Harcourt’s Tobacco Warehouse project is to deliver 538 apartments and 100,000 sq ft of ground floor commercial space across three phases.
“We are immensely proud to be delivering a revitalised Tobacco Warehouse,” said Patrick Power, director at Stanley Dock Properties, Harcourt’s delivery vehicle.
“As one of the largest heritage-to-residential building conversions in UK history, Tobacco Warehouse is a major landmark for Liverpool and will be a catalyst for regeneration of the wider area.”