Pluto Finance has announced the successful completion of a £25m senior development finance loan for the conversion of an office building into 145 residential units near Heathrow, offered at a highly competitive rate. This funding underscores Pluto’s commitment to delivering flexible, cost-effective financial solutions that span the full lifecycle of property development.
The borrower, a long-standing client of five years, benefits from Pluto’s seamless support, having previously received backing for the acquisition of the Heathrow site. This loan extends Pluto’s involvement into the development phase, exemplifying the firm’s capability to provide comprehensive financial solutions.
Bertie Edwards-Hedges, lending manager at Pluto Finance, said: “This transaction highlights Pluto Finance’s ability to offer competitive, low-leverage development finance that provides developers with the flexibility they need to succeed. Few lenders can offer such seamless support from acquisition to development, and we’re proud to have been part of the borrower’s successful journey.”
Forsters LLP acted as legal counsel with additional advisory support from Dalbergia and Cushman.
