CapitalRise successfully funding of a £5m loan for the development of an expansive 13,000 sq.ft residence in the exclusive Wentworth Estate in Virginia Water, Surrey.
The three-story, detached property, which will be developed by luxury housebuilder Octagon Developments, will feature a master suite, three ensuite double bedrooms, and high-end amenities such as a five-car garage, a wine cellar, and a cinema room.
Located in the affluent town of Virginia Water, Surrey, the Wentworth Estate is a highly coveted ‘super prime’ locale renowned for its sizeable detached homes nestled within generous plots. This new development represents Octagon’s 32nd project in the prestigious estate.
The CapitalRise loan will also fund the refinance and demolition of an existing property on the plot. The home is set to be meticulously designed by Octagon’s in-house team of architects and will be managed through their Bespoke division, known for its custom service for one-off, super prime builds.
Angus McQuhae, director at Octagon, said: “We have a long-standing relationship with the Wentworth Estate and are thrilled to be involved in this latest project, this time working alongside CapitalRise. With our shared expertise in prime real estate and our history of delivering unique projects like this, we are confident that the result will be another highly sought-after development, meticulously designed and built to the clients’ exacting requirements.”
Lee Francis, lending director at CapitalRise, added: “We are delighted to continue our work on the exclusive Wentworth Estate, and expand our portfolio within the Prime Home Counties. Working with accomplished developers like Octagon is always a pleasure, and we eagerly anticipate overseeing the progress of the development.”
The recent deal comes on the heels of an £8.5m development loan that CapitalRise originated on the same prestigious estate in November 2022, further bolstering the firm’s portfolio of luxury property loans.
Since its inception in 2016, CapitalRise has originated loans against prime property assets valued at a staggering £767m.
