Conversion of Grade II Listed Mill into Nine Apartments in Derbyshire
£1,450,000 · 20 months · 1.05% pm. A specialist heritage developer had planning consent and listed building consent to convert a redundant Victorian mill in Derbyshire into nine high-specification apartments.
The Client
Specialist heritage developer
The Challenge
A specialist heritage developer had planning consent and listed building consent to convert a redundant Victorian mill in Derbyshire into nine high-specification apartments. The listed status, complex structural works, and niche buyer market made mainstream development finance difficult to secure.
Our Solution
Doulton's team assessed the developer's heritage portfolio and the robustness of the GDV via independent RICS valuation. A £1.45m facility was structured with a heritage-specific contingency allowance built in.
The Outcome
Conversion completed to a high standard. Seven units sold pre-completion and two sold within eight weeks of PC. Final GDV exceeded initial appraisal by 6%, and the facility was redeemed at month nineteen. Key highlights: Listed building conversion expertise; Heritage contingency built into facility; GDV exceeded appraisal - clients achieved best-in-market pricing.