Prime property finance firm CapitalRise has provided a £6.8m loan for the refinancing and development of three luxury flats in Chelsea.
The proposed scheme is to convert a six-storey, mid-terrace house in the Prime Central London neighbourhood of Sloane Gardens into three new apartments, with a combined value of £9.75m.
The deal comes after a record-breaking month for CapitalRise who originated £18m in loans during December 2022 across five new deals – the highest number of deals it has closed in a single month since it was founded in 2016.
Raf Chowdhury, associate director at CapitalRise, said: “The company finished 2022 strongly and we are really pleased to have carried that momentum into the new year with the completion of this deal.
“Sloane Gardens is situated between Chelsea, Belgravia, and Knightsbridge in the heart of Prime Central London which remains an enduring allure to us, as a business, given our in-house expertise in this market.
“It is an exciting project and we look forward to overseeing progress of this luxury development to a high-quality finish.”
The completion of this latest deal pushes the prime property finance firm further past the £250m origination milestone.
