Hilltop Credit Partners has completed a £16.1m loan to Mitchian Group, for the development of 122 private residential units and a small commercial unit in central Leicester. 

The project is situated on Jarrom Street and will deliver 116 one-bed flats, 1 two-bed flat and 5 studios as well as a small ground-floor commercial unit. Residents will also have access to internal communal space and a 1,300 sq ft residents’ roof terrace. 

Tiger Craft, President, and COO of Hilltop Credit Partners, said: “It is a privilege to work with the Mitchian Group again following the success of our first partnership in Leicester. They have proven their ability to successfully identify and execute on attractive development opportunities in their local market, and as we continue to invest in the Leicester housing market. We believe this latest development will prove extremely attractive to landlords seeking to capitalize on a record imbalance between rental supply and demand.”  

The high-specification units are expected to appeal to professional landlords, given strong anticipated rental demand from NHS hospital workers from the adjacent to the NHS Leicester Royal Infirmary and students at two nearby university campuses.

Philip Mitchell, of Mitchian Group, said: “The Leicester market continues to suffer from an acute shortage of housing stock, and we believe our Jarrom Street development will provide much-needed, affordably priced accommodation to local students and professionals.”