en.Wedoany.com Reported - UK property group Integritas Property Group (IPG) has secured £15.5 million in residential development financing from BG Lending to advance the construction of the Central Point project in Liverpool. IPG stated that this financing marks a significant milestone in the ongoing progress of the 10-storey, 52-apartment residential development project.

IPG said it will now begin remobilising the site in preparation for the continuation of construction, with work set to commence once approval is granted by the Building Safety Regulator. The company noted that, against the backdrop of a more complex regulatory environment following the establishment of the Building Safety Regulator, this residential development financing transaction underwent a detailed lender due diligence process. Throughout this period, IPG remained focused on protecting the long-term value of the residential development project, maintaining open dialogue with stakeholders, and advancing the required steps. BG is also working with the developer to complete financing for Central Point's sister residential development project, Sovereign Point.

IPG Chief Executive Officer Mitchell Walsh said: "Securing this £15.5 million in residential development financing is a major milestone for Integritas Property Group and represents a strong vote of confidence in the Central Point project. We are very grateful for BG Lending's support, trust, and confidence in the long-term value of these residential development projects. Bringing a new institutional lending partner into Liverpool is significant, not just for IPG, but for the city and the regional property market as a whole."

IPG posted an update on its website this month regarding the progress of both the Central Point and Sovereign Point residential development works. The announcement stated that piling, foundation works, and initial structural works up to the first-floor slab had all been successfully completed previously, with the focus now shifting to preparations for restarting construction, including targeted repairs to existing concrete elements, structural inspections and sign-offs, site remobilisation, crane inspections and new commissioning, and compliance preparations. Until the Building Safety Regulator approves full construction, works are limited to safety and repair activities.

BG Capital Director Aysan Ozel said that despite ongoing market challenges, the company recognises the strength, long-term value of the residential development project, and the commitment demonstrated by the IPG team.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com