Omni Capital has provided multi-million pound funding for an historic Surrey stately home once occupied by earls and dukes.
Albury Park, an 18th century, Grade II listed former stately home in Albury, Surrey, has undergone an award-winning restoration by a development partnership comprising Michael Wilson Restorations and Belgravia-based Chelsminster Estates.
Mayfair-based brokerage Arc & Co. was approached by the developer team to deliver a substantial refinance package for the landmark development. Omni Capital was selected as the preferred lender and provided a £15 million loan facility within 10 days.
Located near Guildford, Albury Park’s original architects were responsible for the Bank of England building in London and the Houses of Parliament, and the property was host to the Coronation Banquet of King George III in 1761.
Together, Michael Wilson Restorations and Chelsminster Estates have given this property set within the Duke of Northumberland’s 150-acre park a new lease of life through the creation of 12 luxury residences, managed in consultation with English Heritage.
Chelsminster Group’s chief executive Mark Clayton said: “With the expert advice of Arc & Co. we were delighted to appoint Omni Capital as the lender for Albury Park. The company’s background and understanding of the high-end luxury residential sector was invaluable and they offered us a fast and competitive package with considerable added valued.”
John Kerrigan of Arc & Co. added: “Arc & Co. was privileged to be involved in structuring funding for such a landmark and unique property. Working closely with the teams from Albury Park and Omni Capital, who both showed the utmost professionalism throughout the exercise, was a pleasure, and we look forward to building on these relationships into the future. Further to replacing the existing senior debt, additional equity was released to allow for property enhancements, all adding even greater quality and value to the scheme.”
Colin Sanders, Omni Capital’s chief executive officer, said: “Albury Park is an enormously exciting and rather special premium residential development of the type rarely seen. Michael Wilson Restorations and Chelsminster are bringing to this unique project their highly-regarded flair for design and talent for creating enviable high-end lifestyle environments. It’s testament to our capabilities that we were able to move quickly and with certainty to fulfil their needs in this far-from-simple lending scenario.”
The three parties are in continuing discussions regarding future co-operation across a range of areas relating to Albury Park.
