CapitalRise has funded an £8.36m loan for the acquisition and refurbishment of a luxury apartment in Academy Gardens, in the Royal Borough of Kensington and Chelsea.
The proposed development will include a comprehensive refurbishment of the property and some light remodelling.
The unnamed developer specialises in residential schemes in Prime Central London and has completed 14 projects over 20 years.
Lee Francis, lending director at CapitalRise, said: “We are extremely proud and delighted to be working on a new property with a highly experienced developer, who has a wealth of knowledge and a successful track record of projects in Prime Central London.
“We are well known for funding loans for property projects in Prime Central and Outer London, as well as the Home Counties, and this project demonstrates our ability to deliver these bespoke deals in sought after areas.”
CapitalRise continues to structure innovative and bespoke finance packages to support the needs of prime property developers with projects in London, the Home Counties, and beyond.
The deal follows twelve months of significant growth for CapitalRise as it continues to enable prime developers to facilitate the surge in demand for luxury developments. CapitalRise’s experience and knowledge in this specialist sector makes it the ideal finance provider to partner with.
The borrower added: “I am very excited to be working with CapitalRise.
“It understands the core fundamentals of luxury developments and financing a bespoke deal, plus the team is a pleasure to work with.
“l look forward to delivering this amazing property to the market in the coming months.”
