Shawbrook Supports Transformation of Former Chapel into Acclaimed Apartment Scheme
The conversion of a former Methodist chapel into five high-quality apartments demonstrates how tailored funding can help bring ambitious residential schemes to life.
At a glance
Shawbrook has supported an experienced property developer at multiple stages of a residential conversion project in Chelmsford, helping transform a former Methodist chapel into five high-end apartments.
The customer identified the site as a strong residential conversion opportunity and required funding to acquire the property and progress the scheme.
Following planning approval, Shawbrook provided a £1.45 million development loan to fund the conversion of the building, facilitating the delivery of five apartments with a Gross Development Value (GDV) of approximately £2.1 million.
The completed scheme combines contemporary open-plan living with original character features, including retained stained-glass windows, underfloor heating throughout and ensuite shower rooms in every apartment.
Sales are progressing, and the development has been recognised in The Sunday Times Best Places to Live Guide 2026.
The transaction highlights Shawbrook's ability to work with developers at different stages of a project's lifecycle, providing specialist funding solutions that evolve alongside a scheme's changing requirements. Shawbrook can support from site acquisition through to development, planning enhancement, practical completion and eventual exit.
Not every opportunity starts out as a typical development, and this project is a great example of recognising potential in something a little different. By supporting the client at multiple stages of the project we provided funding that adapted as the scheme developed, helping to bring their vision to life.
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