Alternative property lending group Zorin Finance has completed a £22m development loan to Haslar Developments for the Royal Haslar site in Hampshire.
Royal Haslar is a 63-acre former military hospital with numerous Grade II listed Georgian buildings dating back as far as 1753, in a parkland setting, overlooking the Solent.
Zorin’s loan will fund the remaining completed independent living and retirement units, and develop the next phase of the site with a further 38 apartments and associated infrastructure works.
Plans are also being advanced to add a gym, pool and spa area in addition to a restaurant.
The development is part of a wider plan to regenerate the former Royal Haslar which will provide a mixed-use scheme of 270 residential units, 244 senior living residential units, a care home, business space, retail and licensed premises.
The enviable combination of its heritage, architecture, connectivity, stunning setting and the mixed-use nature of this site is unrivalled in the region and make it truly unique.
Vinod Vijaya, lending director at Zorin Finance said: “We would like to thank Haslar Developments for their business and look forward to helping them deliver a leading scheme in this stunning and historic location.”
Pat Power, a director at Haslar Developments, added: “We look forward to building a successful and long-term relationship with the Zorin team in the development of this multi-phase development of this spectacular site.”