Alternative Bridging Corporation completes development loan on iconic Liverpool landmark
11 May 2021
Alternative Bridging Corporation has completed a £3.4m development loan to bring Andrew Gibson House, an iconic Liverpool landmark, back to life.
Andrew Gibson House is a former care home for widows of seafarers on the Wirral peninsula in Liverpool. The Edwardian property, which was originally built in 1906, has been left derelict for more than 10 years and had been threatened with demolition until a petition by Save Britain’s Heritage gained nearly 6,000 signatures.
The £3.4m development loan will save the building from demolition, funding the regeneration of the property to deliver 34 flats and 4 houses. Amongst the new homes being built, 26 will be used by the Nautilus Welfare Fund – a registered charity that supports retired seafarers and their dependents.
Brian Rubins, Executive Chairman at Alternative Bridging Corporation, says:
“SME property developers are vital to this country’s ability to build more housing, not just on new sites, but often by regenerating and repurposing existing buildings.
“When the building is as historic and locally important as Andrew Gibson House, the process of securing finance to fund a development is not always straight forward. But at Alternative Bridging Corporation, we have the expertise, experience, and determination to make deals like this work – enabling the developer to save a local landmark and deliver a really positive impact to the community.”
