The development has a gross development value of £28m and comprises 36 flats spread across three blocks.
Shawbrook Bank senior relationship manager of development funding Philip Kirkwood the project reflected Shawbrook Bank’s appetite and ability to help regional sized developers grow their businesses.
“At the same time, it’s important that we obtain the right level of due diligence on a scheme this size and we are pleased to confirm that Naismiths have been appointed as our independent monitoring surveyors,” he said.
“Their knowledge and experience will be vital to managing the development risk and bringing the scheme to a successful completion.”
Naismiths managing director Blane Perrotton added: “To have been appointed on one of Shawbrook Bank’s largest developments to date is a huge accolade for our project monitoring team and hopefully underlines the quality of our proposition. We look forward to playing a key role in helping it succeed.”
Naismiths’ project monitoring team is currently overseeing more than 400 residential and commercial projects across England, Scotland and Wales. The projects range in value from £750,000 to £150m and beyond.