The company behind one of Bath’s most prestigious housing developments has received a £35.4m loan from a specialist property fund.
Hope House (Bath), a joint venture between Acorn Property Group and Galliard Homes concluded the deal with Titlestone Property Finance, which has already backed 29 similar schemes across the South West. 
Hope House, pictured, is an upmarket development of 54 one, two, three and four-bedroom apartments and houses on the site of the Grade II listed former Girl’s Day School Trust site in Lansdown.
The scheme, which is set in just over six acres of grounds overlooking Bath and the Avon Valley, includes refurbishment and conversion of the former school building along with new-build homes.
Bristol-based property group Acorn paid £13.1m for the site in a joint venture with housing developer Galliard Homes two years ago – some £3m more than the quoted price in a move viewed as an indication of the strength of Bath’s residential property market.
Titlestone relationship director Nigel Jackson said: “80% of our business comes from direct approaches and client repeat business. We have established a strong client base in areas such as Bath, Bristol and Exeter and we are keen to expand this presence further across the South West.”
Titlestone has become a leading provider of stretched senior debt in the region, drawing down on facilities of over £235m, which has supported the delivery of more than 1,000 residential units.
The company offers funding to experienced property developers across a wide range of projects, including mixed-used schemes and student development.
Titlestone’s other recent South West projects include nine converted flats in Bath’s Stall Street, which have been built and sold, a 60-apartment conversion in Brunel House, Bristol, and 40 converted flats in Portland Square, also in Bristol.
