Oblix Capital complete a £5.03 million development loan on luxury London site
Oblix Capital, industry specialist’s in bridging and development finance, announce they have provided a £5.03m facility to fund the development of 6 luxury apartments situated in Chelsea, West London.
Having acquired the 5-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 2-bed luxury apartments.
This recent completion marks a very active period for Oblix with a number bridging and development completions since the start of the new year. Looking ahead into 2019, the specialist lender are in prime position to continue their sustained growth, whilst matching the ever-increasing market demand.
Sales director at Oblix Capital, Andy Reid, pictured, commented:
“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.”