Specialist prime property finance company, CapitalRise, has provided finance to fund a £7.4m loan for the development of two detached properties totalling 17,490 sq. ft on a private 15-acre plot of land in the exclusive affluent location of Marlow.
The deal was introduced via Manish Babla at Sterling Professional Finance Limited.
The two new-build detached houses are located within an Area of Outstanding Natural Beauty with views over Marlow Hills.
The property will consist of two detached dwellings. The northern plot will be a mansion set over the basement, ground, and first floors, with a detached garage.
The southern plot will include a detached single story contemporary dwelling with an outdoor pool.
The deal follows 12 months of growth for CapitalRise, as it enables prime developers to facilitate the growth in demand for luxury developments.
CapitalRise worked closely with Babla at Sterling Professional Finance to fund this private development alongside the developer which has experience in luxury, high-end residential property schemes in Buckinghamshire.
Katy Katani, director at CapitalRise, said: “We are proud and excited to be involved in this outstanding project in Marlow backed by such highly experienced developers.
“As specialist prime real estate lenders, working with such a first-class delivery team in desirable locations is exactly the type of project we love to fund.
“We have continued our commitment to lend in challenging circumstances without sacrificing extensive due diligence.”
She continued: “This scheme is an example of our commitment to serving the Prime Property development sector, which is renowned for its resilience.”
Babla added: “When looking at funding a transaction in the current volatile climate, nothing is black and white.
“I approached CapitalRise having understood their appetite to lend on such high value assets.
“With a full review, credit assessment and site visits, the team at CapitalRise were able to put together an offer, both in terms of an acceptable rate and indeed the loan-to-value, allowing the client to raise sufficient funds to complete the development and re-pay the current mortgagee.
“The approach from everyone involved, including the client, was one of flexibility, cooperation and, of course, some give and take.”
Babla concluded: “It’s been an absolute pleasure working with Katy Katani and we would certainly continue to consider transactions with CapitalRise, whether it’s vanilla or complex, given their pragmatic approach as they will consider each transaction on its own merit and find a way where possible.”
