Real estate funding specialist ASK Partners (“ASK”) has granted a £22.75m senior loan to Development Capital London Ltd, a joint venture partnership between prime property development company Bodker & Co. and architectural and design studio Echlin.
The loan will fund the acquisition of five freehold period properties on Lansdowne Walk, a prestigious street in Notting Hill, central London.
The properties, which total 23,377 sq. ft., are located in the affluent and desirable residential area of Notting Hill in the Borough of Kensington and Chelsea.
They were sold by a charity that rehouses women in need and will be relocating its accommodation.
The buildings are situated a short walk from Holland Park tube station and are characterised by period architecture, original features, rear south-facing gardens, and access to garden squares.
Chris Bodker, founder of Bodker & Co., said: “With clever design, substantial refurbishment, and restoration, we plan to create beautiful living spaces in these elegant buildings.”
Elliot Blatt, investment manager at ASK, said it was a pleasure to work with the joint venture partnership and finance the project.
Blatt added, “Between both parties, they have an excellent track record in delivering luxury residential properties, and I’m confident the same will be achieved here.”
