Cubica Capital secures £6.8m loan from STB Real Estate Finance
The five-year residential property investment facility will fund the completed redevelopment of the five-storey building.
Cubica Capital has secured a £6.8m loan from Secure Trust Bank (STB) Real Estate Finance to refinance Roxby House, a converted office block in Sidcup.
The five-year residential property investment facility will fund the completed redevelopment of the five-storey building, which was originally designed by post-war architect Owen Luder.
Roxby House has recently been refurbished and now provides 34 one- and two-bedroom units for young professionals.
The deal was structured at 70% loan-to-value (LTV).
Ariel Mozes, director at Cubica Capital, said: “We’ve worked with Alasdair and the team for many years.
“Throughout the process, Alasdair was just a phone call away in the event of any potential obstacles and ensured the transaction was as seamless as possible.
“Roxby House has been thoughtfully transformed into a vibrant residential community.”
Mozes added: “The redevelopment delivers modern residential accommodation while carefully retaining the building’s architectural character.
“It is a welcome addition to Cubica Capital’s growing residential portfolio.”
Alasdair Bowers, relationship manager at STB, said: “Working with Ariel and Cubica is always an enjoyable experience.
“It’s incredibly rewarding to see exciting developments like Roxby House come to life, especially considering the early demand for tenancies.”
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