A BANK part-owned by Warrington Borough Council has loaned a developer more than £1million as part of an apartments scheme in the town centre.

Redwood Bank, in which the council has a one-third share, has lent Buttermarket Properties £1,050,000 in order to support the development in a former bank on Horsemarket Street.

The RBS branch closed in 2018, and has now been converted into 14 one, two and three-bedroom flats.

Three commercial units have also been created on the ground floor as part of the £1.6million project.

Buttermarket Properties director Neil Trainer ‘sought help from Redwood to consolidate a development funding grant into a competitive term loan after taking advice from his broker’, Danny Carter of UK Financial Consultancy Services Limited.

The ‘challenger’ bank’s business development manager Sue Young said: “We were thrilled to be able to support a veteran property investor in bringing housing to Warrington town centre.

“Having worked closely with Danny for many years, Neil was able to place his trust in Redwood Bank and allow us to move swiftly to come up with a solution that worked for all parties.”

Mr Trainer added: “I’ve been impressed by the can-do attitude shown by Sue and the Redwood team.

“They find solutions to make things happen and the proactive approach has ensured a swift deal which, in the current property market, is vital.”