Atelier completes £7.6m loan for permitted development scheme
By Bridging Loan Directory
Development finance lender Atelier has today announced completion of a £7.6m development loan funding the redevelopment of an office building in High Wycombe into 52 apartments.
The loan is structured at 66% LTV over a 24-month term.
The permitted development in High Wycombe will consist of a variety of living spaces, with 43 studio flats, eight 1-beds and a 2-bed unit, as well as 68 car parking spaces for residents, totalling 52 new homes.
High Wycombe remains an attractive location in Buckinghamshire, nestled between the Chiltern Hills and with access to London, boasting excellent transport links and high-quality schooling options.
Atelier remains committed to funding high quality schemes in good locations and harnessing the potential of permitted development to build out housing supply in the UK.
Luke Eadie, Lending Manager at Atelier, commented:
“It has been a pleasure to work with a new borrower and further strengthen our relationship with Brotherton on this permitted development scheme in High Wycombe.
We look forward to seeing the delivery of 52 high-quality homes in an excellent location.”
Simon Joseph, Relationship Director at Atelier, commented:
“This is the latest in a long line of permitted development schemes we have financed, and we are well placed to advise developers on optimal loan structures for PD schemes.
We can’t overlook the role office-residential conversion will play in increasing housing supply.”
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