Gibson House

Published by Alternative Bridging Corporation -

• Location - Wirral, Liverpool
• Loan Type - Development Finance
• Loan Amount - £3.4m

Alternative Bridging Corporation provided a bridging loan to finance holding and planning costs which was converted to a £3.4m development loan, to bring an iconic Liverpool landmark back to life.

Situated on the Wirral peninsula, a former care home for widows of Liverpool seafarers, the Edwardian property was originally built in 1906 and had been left derelict for more than ten years. It was threatened with demolition until a petition by Save Britain’s Heritage gained nearly 6,000 signatures following which Alternative’s developer client purchased the property and negotiated planning permission.

The £3.4m development loan will fund the regeneration of the property to deliver thirty-four flats and four houses in Phase One and discussion is now active to continue with eleven flats in Phase Two.

Completion of the refurbishment of the existing building facilitates Phase Three, the development on the adjacent site, where ninety-eight apartments are to be constructed in three blocks. Amongst the new homes being built in Phase Three twenty-six will be used by the Nautilus Welfare Fund – a registered charity that supports retired seafarers and their dependents.