Funding package helps developer transform iconic building

A Midlands property investment and development business has completed a new residential and commercial development in a former telephone exchange, with support from Lloyds Bank.

       Share via email

Read time: 5 mins      Added: 16/01/2019

Family business Gidney Holdings, which specialises in building residential property developments across the Midlands, has transformed the iconic Solihull building into luxury apartments and office space.

The development was backed by a £2.3million loan from Lloyds Bank, Gidney Holding’s long-standing financial partner, and £875,000 from social investor the Housing Growth Partnership.

A long-term partnership

The development is called The Exchange and comprises eight two-bedroom apartments and two two-bedroom penthouses, with a suite of offices on the ground floor.

The Exchange is the fourth project the firm has completed with support from Lloyds Bank, with past redevelopments including properties in Leamington and Warwick.

"The team at Lloyds Bank has strong sector expertise that has been invaluable in this project. We’re already looking forward to the next one."

Andy Gidney, director, Gidney Holdings

"This latest project has seen us transform a well-loved but neglected building into attractive properties in Solihull, which is a much sought-after area in the West Midlands.

"Lloyds Bank has supported us for many years and it’s fantastic to be working with its team, alongside the Housing Growth Partnership, on The Exchange."

Vaughan Hobbs, relationship director at Lloyds Bank Commercial Banking, said: "Solihull is a popular place for professionals and The Exchange is an exciting new development providing high-quality housing in the heart of the town."

"The UK housing sector is a buoyant place to be and SMEs like Gidney Holdings have seen a significant uplift in their growth prospects."

Vaughan Hobbs, relationship director at Lloyds Bank Commercial Banking

Committed to supporting SMEs

Vaughan Hobbs added: "Our latest Housebuilders report showed that 26 per cent of SMEs are predicting a year-on-year increase in the number of homes they build this year.

"We’re committed to helping Britain prosper by supporting small to medium sized businesses like Gidney Holdings, which is why we’ve pledged to increase our lending by a further £2 billion this year."

All lending is subject to status.

Real Estate

Find out how we are supporting real estate businesses

Real Estate

Important legal information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.