Transformation of a landmark office site into apartments

This development will convert an existing office block into 127 new apartments in Chertsey creating a new residential community.

Working with a returning borrower we provided a £26m loan facility to provide much needed apartments in a desirable area. The developer had a hard stop completion date which required the loan to complete in just 13 days from initial enquiry. Building work will begin in the autumn with homes expected to be marketed in 2024.

Gross Loan

£26m

Term

18 months

LTV

Stretched Senior

Units Created

127

Exit Method

Sales

“This is our largest loan to date and underscores our commitment to supporting developers with fast lending decisions and financing solutions tailored specifically to each individual borrower’s needs.”

- Martin Gilsenan, Chief Originations Officer