Conversion of a former office block into 49 residential apartments

21-month development loan to convert a disused office block into an impressive residential scheme.

We have provided a £10.7m development loan to facilitate the acquisition and development of a centrally located office building in Woking. This ambitious venture entails the conversion of the existing structure into an impressive range of 49 residential apartments, comprising 13 studios; 24 one-bedroom flats, and 12 two-bedroom flats. It exemplifies our commitment to financing innovative and transformative development projects.

Gross Loan

£10.7m

Term

21 months

LTV

67%

Units Created

Exit Method

Sales

"We are pleased to work with this returning borrower. Our past projects have been successful, and I'm confident this one will be too.”

- Anthony Dobinson, Senior Investment Manager