Leumi UK lends £10.4m to Sterlet for London portfolio refinance
Sterlet was advised by Brotherton during the transaction.
Leumi UK has lent £10.4m to Sterlet to refinance three properties across Fitzrovia, Elephant & Castle and Acton in London.
The largest is 33 Manor Place, a Grade II listed site close to Kennington and Elephant & Castle stations.
It covers 22,461 sq ft and is fully let to Palace Skateboards, which has invested in the fit-out.
The site was previously a Victorian swimming baths and is now a creative and events space as part of a commercial partnership with Nike.
The second property, 17–19 Foley Street, is a corner office building in Fitzrovia with 9,312 sq ft over four floors.
It is let to several tenants and has planning permission for an extra floor and refurbishment.
The third property, 179–181 The Vale, is a 3,086 sq ft commercial unit near Acton Central station and is let to a telecommunications provider.
Sterlet was advised by Brotherton during the transaction.
Sterlet said: “Leumi UK took a pragmatic and collaborative approach throughout the process, working constructively with us to deliver a tailored financing solution that aligned with our objectives.
“We look forward to working together as we implement our business plans across the portfolio.”
Marcus Booth, associate director at Leumi UK, said: “It has been a pleasure to work with Sterlet which has an excellent track record of acquiring and developing differentiated properties with strong fundamentals.
“This transaction demonstrates our commitment to working closely with our partners, and to delivering tailored, highly flexible financing structures that meet our client’s individual goals.”
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