ASK Partners has provided an £11.7m senior loan to property investment and development company Ziser London, giving it additional time to deliver a build-to-rent scheme in Cricklewood.
The 18-month loan facility is secured by a single-storey retail warehouse currently leased to Matalan, on a 2.2-acre freehold site on Cricklewood Broadway. The site is close to Hampstead Heath, Brent Cross Shopping Centre, two stations on the Thameslink network and Brent Cross Town regeneration.
The loan facility is intended to refinance an existing lender, providing Ziser London with additional time to complete the pre-construction phase before proceeding with the approved planning permission for a 239-bed build-to-rent scheme.
It brings ASK’s loan book to £1bn. The deal was brokered by BBS Capital and ASK was advised by Fladgate and Montagu Evans.
Image © Ziser London (CGI)
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