Send us news by text, start your message Knutsford News and your send photos and videos to 80360
Listed Hulme Hall set for major revamp
A 15TH century moated farmhouse in Allostock which could be worth £2 million is set to undergo a major refurbishment.
Grade two-listed Hulme Hall on Hulme Hall Lane is to be restored thanks to Bolton-based Harewood Associates Ltd and property funding specialist Bridging Finance Limited.
The property, located on a moated 2.6-acre site, which is a scheduled ancient monument and joined with a grade two listed bridge, had been on the market for £265,000 before it was sold.
The property originates from the 15th century and has been in disrepair for more than 10 years.
Plans for Hulme Hall include creating six bedrooms all with en-suite facilities, a dressing room, a gym, snug, living accommodation, formal dining room and a detached garage block with room for five cars with ancillary living/office accommodation above.
Harewood Associates told the Guardian it spotted the potential of the historic building and turned to a short-term lender Bridging Finance for the funds to complete the purchase of the site.
Peter Kiely, investment manager at Harewood Associates, said: “Hulme Hall is a one-of-a-kind restoration project.
“We had to move fast to purchase the property and needed £135,000 to complete the transaction.
“Banks are still hesitant to lend on renovation projects of this scale so we approached Bridging Finance Limited, who we’ve successfully worked with in the past, for fast access to funds.
“Thanks to the quick and flexible short term finance Bridging Finance provided work is well under way on the site.
“We’re working with conservation officers and archaeologists to restore this home to its former glory. Initial estimates suggest it will be worth £2 million once completed.”
Chris Baguley, managing director of Bridging Finance Limited, said: “We’ve worked with Peter and the team at Harewood Associates on some great property developments, and when they showed us the plans for Hulme Hall we could see the potential of this historic building.
“Hulme Hall is going to be one of Cheshire’s most sought-after homes.
“High street banks need time to undertake their due-diligence to provide long-term loans, and this can often be a barrier to securing a one-off investment opportunity.
“Short-term funding is perfect for any property professional who needs to act quickly. We were in a position to provide fast access to finance so that Harewood Associates could acquire this fantastic property.”
THE Guardian has since learned that a temporary stop notice has been placed on the development until November 1.
The developers said they were working with the council, Cheshire West and Chester, to resolve the issues.
Comments are closed on this article.