Developer Stanley Dock Properties has secured a £40m development loan for the residential development at Liverpool’s Tobacco Warehouse from QSix REF.
The funds will allow completion of 192 flats and 28,557 sq ft of commercial space in phase one of the 538-home project.
Tobacco Warehouse was once claimed to be one of the world’s largest brick buildings, with 32 acres of gross internal space, equating to 1.4m sq ft.
When first built it used 27m bricks, 30,000 panes of glass and 8,000 tonnes of steel.
Stanley Dock is converting the 14-storey Grade II listed heritage building in three phases.
The regeneration is part of the wider Tenn Streets neighbourhood, which includes the Titanic Hotel adjacent to the planned new Everton Football Club stadium.
Patrick Power, director at Stanley Dock Properties, said: “As one of the largest heritage-to-residential building conversions in UK history, Tobacco Warehouse is a major landmark for Liverpool and we are excited to be transforming this monumental building into amenity-rich residential and commercial space while preserving the charm of the original architecture.”
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