Pluto Finance has closed a £17m loan to Redwing Properties Limited for the redevelopment of Mount St Mary’s Church in Leeds.
Developer Shane Graham is leading the project, which aims to transform a Grade II listed church designed by Augustus Pugin, the architect behind Westminster Palace.
The church has been derelict since the 1980s, and this funding marks the start of its restoration.
The redevelopment will occur in two phases. The first will construct 113 apartments, part of a total of 175 residential units planned, with modern amenities such as electric vehicle charging points.
Burgess Salmon handled the legal aspects of the loan.
Evan Griffin, lending director for the North at Pluto Finance, said: “We are delighted to be working with Shane and Paul again on the first phase of this development.
“Bringing a building of historical significance back to life is truly special. We’re excited to support the delivery of these unique, high-quality homes.”
