Deutsche Asset Management has completed a £55m financing to Clivedale for the redevelopment of 22 Hanover Square, W1.
The financing allows for the implementation of the planning permission to build a five-star boutique hotel, up to 41 flats and ground-floor retail.
The 51-bed hotel has permission for a gym, bar, lounge, swimming pool and meeting rooms.
Andrea Vanni, head of European Real Estate Debt Investments for Deutsche AM, said: “We are pleased to continue our relationship with Clivedale into the next stage of the redevelopment of 22 Hanover Square.”
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