Wirral finance firm passes £100m barrier

Wirral property finance finance firm The Harrogate Group was launched during the pandemic and has now provided £126m to multiple projects. Tony McDonough reports

Harrogate Group
Harrogate Group founders Faisal Arif and Sue Wright


Just two years after it was founded Wirral property finance finance firm The Harrogate Group has already advanced £126m in loans to a number of projects.

Harrogate was co-founded in 2021 by Faisal Arif and Sue Wright. They spotted a gap in the market for offering an alternative to traditional bank finance to residential and commercial property developers.

Sue made her name in Liverpool as a barrister specialising in family law for 20 years. She later worked as an executive for hotel developer Signature Living.

In its first year, the business provided £15m of funding for real estate projects, growing to £30m in 2022. Working with developers and investors across the UK the firm has already advanced £81m in the first six months of 2023.

Products include bridging loans, development finance, forward funding and exit finance, supporting developers from a project’s inception through to completion and exit.

In 2022 Harrogate also played a key role in helping US-based Pierian Biosciences open a base in Liverpool as part of a £60m expansion.

Harrogate chief executive Faisal Arid, said: “At a time when interest rates are climbing and the high street banks are demanding high loan-to-value ratios, The Harrogate Group is assisting developers with bridging finance to kick-start their projects. 

“In the last six months, we have supported 20 plus UK developers with funding for projects with a gross development value in excess of £500m.

“These projects are delivering much needed new homes, helping to regenerate communities and creating jobs. 

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“We are proud that the roots of the company are in the Wirral and excited by the opportunities to branch out into other cities and countries as the business grows, whilst keeping our focus firmly on the UK real estate market.”

Harrogate launched its private property fund last year to provide financial support for residential and commercial developments. In addition to bridging finance, it provides development loans and commercial mortgages ranging from £5m to £50m. 

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