Oblix Capital has provided a £5.03m facility to fund the development of six luxury apartments situated in Chelsea, West London.
Having acquired the five-storey Victorian house, the 24-month loan was funded at 75% LTV, allowing the borrower to organise enhanced planning and commence the construction of six two-bed luxury apartments.
Andy Reid (pictured), sales director at Oblix Capital, said: “Working with such an experienced developer eases the entire process and promotes a professional and focused relationship.
“This is a fantastic example of developer and lender working together to maximise the opportunities of the site and the cohesion between our risk department and the client’s project managers ensured the smoothest transaction to funding the development.”