It’s not all doom and gloom for the local economy during these unprecedented times, as companies seek to do business from the comfort of their homes. Leeds based Commercial Finance broker, ‘Xander Wealth Commercial Finance’ have just sealed a £2.7m investment/development finance deal in partnership with a local developer for the construction of seventeen high specification apartments on Filey Road in Scarborough. The company which specialises in development finance sealed the deal in May 2020. Work on the scheme is due to begin imminently and will be completed by August 2021.
These brand new unique apartments are specially designed and suitable for all age groups, including the elderly, disabled and families. They will be constructed from special insulating concrete, made with rigid thermal insulation and interlocking modular units which are dry-stacked and filled with concrete. The complex will have wheelchair access and be environmentally friendly too. Some of the apartments have views of Scarborough’s South Bay and are located near the town centre, train station and beach.
Xander Wealth founder, Kristian Alexander Wilkinson commented:
“This will be a wonderful addition to the local community of Scarborough, offering high specification, eco, accessible apartments suitable for people of all ages, with potential for tourists and permanent residents alike”
This represents a large deal in Xander Wealth Commercial Finance’s short history, which Wilkinson started in 2017 and after two years of building contacts started trading in February 2019. They offer a wide range of finance products, including development finance, bridging loans, commercial mortgages and ‘Buy to Lets’ for Ltd companies. To date they have arranged funds worth over £4.2m since its inception. They are now working on a small housing scheme in Castleford as well as one in Barnsley too. Wilkinson’s future ambitions is to establish his own credit line for the development of housing & commercial schemes across the county.
Despite the drawbacks of the Covid-19 pandemic, Xander Wealth keeps going from strength to strength.
