ASK Partners (ASK) has provided a £25m senior loan to London property developer Avanton, secured against a 4.6-acre freehold site in North Sheen, Richmond.
The site includes a vacant 56,840 square feet retail warehouse and a 174-space car park.
It has planning consent for a 453-unit residential scheme, which comprises 173 affordable units.
The loan refinanced existing debt from ICG, allowing Avanton to progress with their business plan.
Planning consent for the residential units was achieved in May 2024.
Omer Weinberger, CEO of Avanton, said: “Refinancing this site with ASK will help us unlock the potential of this fantastic development opportunity.
“We are looking forward to growing our development portfolio in west London with a high-quality mix of private and affordable homes to meet London’s needs.
“It was a pleasure to work with ASK; we have built a strong relationship with the team and their knowledge and flexibility was much appreciated.”
Mike Ginsberg managed the transaction for ASK.
Ginsberg said: “We were delighted to work with Avanton who have shown great vision and commitment in unlocking significant value for the micro-location.
“We look forward to seeing this project progress in line with their business plan.”
