Castron Properties secures funding to support development projects

Castron Properties buys, refurbishes and develops buildings, turning empty or damaged sites into high-quality shared homes and apartments. The business is based in London but invests where the numbers work. In this case, that currently means Stoke-on-Trent, where yields and demand are strong.

One of the sites was a fire-damaged block of six properties at 77-87 Liverpool Road which has now been rebuilt from the ground up, creating a brand new 24-bed HMO, all with ensuite rooms. The second is an empty commercial unit on the same street with plans in motion to convert it into residential use.

The team had a clear plan but needed funding to move the projects forward. The work involved heavy refurbishment, planning, staged payments and careful cash flow. In short: more capital was needed than was available at the time.

Karo Orovboni was introduced to Nilima Begum, Evolve’s client manager, at a networking meeting. Nilima then worked closely with him to structure funding for both properties, starting with the refinance of an existing bridge on the first site to extend the term and allow essential bat surveys to complete, followed by development finance to progress the build on the second.

Because both projects sat on the same street, the funding was planned as part of a joined-up strategy rather than two isolated loans. Nilima handled the process day-to-day, coordinating lenders, valuers and legal teams, keeping momentum up and keeping communication clear throughout.

The funding has now enabled Castron to move both projects forward and continue growing the business toward its next goal: more development in London and larger commercial-to-residential schemes.