Posted on 12 September 2022
New this week – a Commercial Property redevelopment in Bromsgrove. I acted as Solicitor for the Lender to facilitate the purchase and redevelopment of Barnsley Court, Bromsgrove.
I am delighted to be able to share press coverage of this latest completed deal. Here is a copy of the article published in Business & Innovation Magazine today:
Business & Innovation Magazine Article – Bromsgrove Redevelopment
“Landmark building Barnsley Court in Bromsgrove has been purchased by developer BN Developments, backed by Statford-upon-Avon based commercial property lender Ambur Capital.
The value of the developed site is expected to be in excess of £1.75 million.
It follows the purchase of neighbouring Barnsley Hall earlier in the year.
Barnsley Hall and Court are the last vestiges of the former Barnsley Hall Hospital, opened in 1907 and used as a mental health institution until 1996, since when it has been vacant.
The majority of the former hospital was sold off for a housing development, and these buildings are some of the last remaining signs that the land had a former use.
BN Developments
Dan Nash of BN Developments said: “We saw the opportunity to retain the attractive façade of the existing buildings, but turn them to a new use for the 21st Century by converting them into high-quality residential apartments.
“We are really pleased to have had Ambur Capital’s help with this property purchase and loan. We expect demand to be high when the apartments are finished”.
Ambur Capital
Ambur Capital director Andrew Burton said: “I’ve been in involved in property investment for a while now, but Ambur Capital is the next phase in that journey.
“I’m extremely pleased to get Ambur Capital’s first deal done. It’s been a real pleasure to work with Dan, and facilitate the purchase of this local landmark.
“The borrower has exciting plans for the residential redevelopment of Barnsley Court and neighbouring Barnsley Hall; it is great to be able to support the rejuvenation of the former NHS site”.
Nexa Law
Ambur Capital took legal advice from John McLean and Steven Mather, both consultants with new model law firm Nexa Law.
John is an experienced Commercial Property Solicitor based in Kinver, near the site in Bromsgrove.
Steven is a Business Lawyer from Nexa’s experienced national team of experts, and has worked with John on lots of deals over the past year.
“It’s been great working with Andrew and Steven on this deal,” said John.
“I love helping to facilitate commercial property development like this, and it’s good to work with a smaller lender who can be more flexible and commercial than a traditional financial institution.
BN Developments were advised by Harrison Clark Rickerbys in Worcester.”
The original article is here: Bromsgrove landmark Barnsley Court to be redeveloped following purchase – Business & Innovation Magazine (businessinnovationmag.co.uk) .
John McLean Solicitor
I enjoyed this job – a great Commercial Property redevelopment in Bromsgrove. I liked working with the Lender to establish parameters for the work involved. Not being a bank, there were no standing instructions. Instead, I worked with the client on a balanced, risk-based approach. Next, I helped the client to risk assess and make decisions on security and levels of diligence as appropriate from that risk assessment. Ambur Capital, as a smaller lender, can take a more commercial view than a traditional institution. Andrew was very appreciative of the approach taken. Here’s his review:
Client Review
“I have worked with various Legal Practices over the last few years on different Property transactions. Having just completed my most recent Property deal using John McLean I have to say that the detail and clarity he provided throughout the process has been ‘’head and shoulders’’ above any of the previous Law firms I have worked with. I would have no hesitation on using his legal expertise on future projects.”
Andrew Burton, Director – Ambur Capital Limited
Commercial Property Solicitor Bromsgrove
If you are looking for a Commercial Property Solicitor in Bromsgrove, or surrounding areas, do give me a free, no obligation, call. You can contact me via enquiries@mcleanlegal.co.uk or on 01384 872069 or via my Free Enquiry web page. I’m based in Kinver, and work across West Midlands, Worcestershire and Staffordshire. I often also act further afield. I carry out all work through Nexa Law Limited, which is authorised and regulated by the SRA.
Thanks
John
