Sirius Property Finance has partnered with Miragon Investments to secure the completion on a £15m development facility.
The loan will fund the development of a block of 100 one and two-bedroom apartments in Peterborough.
The scheme, which is part of the Riverside Generation Project in Fletton Quay, is a brownfield site by the River Nene and is being developed by the Propiteer Group.
Sirius worked in partnership with introducer, Miragon, and the lender, Hilltop Credit Partners, to secure a quick completion.
“This was an excellent example of a big team effort to secure the completion of a large deal in difficult circumstances,” commented Sirius senior associate, Robert Heywood.
“There were lots of different elements to this scheme which could have caused a problem, but the team at Miragon, the client and Hilltop Credit Partners were all fantastic and we all worked together in partnership to get it across the line, and in good time. I’m looking forward to working together with Miragon on funding more developments in the future.”
Miragon CEO, Frank Martinez, added: “We are really pleased with the outcome of this case. It was a potentially difficult scenario and the team at Sirius were able to secure funding without fuss and within a good timescale that exceeded the client’s expectations.
“We have now committed a debt pipeline of more than £50m to Sirius and we hope that this marks the start of an ongoing and mutually beneficial relationship.”
Latest News
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories