Specialist development finance lender Atelier has provided a loan facility amounting to 7.3 million pounds. The funding serves both the acquisition of the development site and the subsequent turnkey construction of a new residential scheme in the south-east of the UK capital.
The scheme is situated on a brownfield site in the borough of Lewisham and will deliver a total of 17 residential units. By repurposing the previously developed inner-city plot, the project contributes to the regeneration of underutilised land reserves across Greater London.
Financing structure and loan terms
The transaction was structured at a loan-to-gross development value (LTGDV) of 67 per cent. The agreed total term of the loan is 24 months. This two-year timeframe affords the developer the operational flexibility required to manage the acquisition process and complete construction works as planned.
- —Financing volume: 7.3 million pounds provided by lender Atelier
- —Project scope: Acquisition and turnkey construction of 17 flats
- —Location: Lewisham, South East London (brownfield site)
- —Loan structure: 67 per cent loan-to-gross development value (LTGDV) over a 24-month term
Development potential on London brownfield sites
The activation of brownfield and conversion land represents a central pillar of urban densification in Greater London. Opening up such plots is often linked to specific technical construction requirements, demanding reliable capital provision that is tailored precisely to the progress of the build.
With this latest facility, Atelier is supporting a medium-sized project that fits into the ongoing structural development of the borough of Lewisham. Specialist financiers in this segment address the distinct capital requirements of developments needing continuous backing from acquisition through to the final completion of residential space.
