Lloyds Bank has taken the lead on the development financing of Lone Star’s 251 Southwark Bridge Road, SE1, residential development.
The high street lender has provided financial backing for the 41-floor, 335-flat project (pictured) in Elephant & Castle along with Wells Fargo.
The estimated development value of the scheme is just under £300m and represents Lone Star’s first UK residential development.
The US private equity fund manager bought the site in May last year for its Real Estate Fund III with Oakmayne Properties in the face of strong opposition to the scheme from nearby nightclub operator Ministry of Sound.
