Assetz Capital has provided a £490,000 development finance facility for the construction of two residential units in Anerley, South London. This loan facilitates the realisation of a project aimed at creating new living spaces in a desirable location.
The financing comprises a loan with a term of 15 months. The loan structure is set at a loan-to-value (LTV) of 70%, which is a common practice in such project financings and defines the relationship between the loan amount and the property's value. This reflects a conservative assessment of the project risk.
Details of the Development Project
The undertaking involves the construction of two one-bedroom garden flats. These units are being developed in Anerley, an area characterised by its proximity to Crystal Palace Park. The location near the park offers potential residents direct access to green spaces and recreational opportunities, which enhances the properties' appeal.
The focus on one-bedroom flats suggests a targeted approach to a specific market segment, possibly first-time buyers, young professionals, or individuals who prefer smaller, efficient living spaces. Such properties are often in demand due to their efficiency and location.
Market Context and Outlook
The provision of this financing by Assetz Capital underlines the ongoing commitment of financial institutions to the UK's housing sector. Despite macroeconomic challenges, demand for housing, particularly in urban locations like South London, remains stable. Projects of this kind contribute to expanding the housing supply.
- —Financing Volume: £490,000
- —Loan Term: 15 months
- —Number of Units: Two garden flats
- —Location: Anerley, South London
