Investec has provided Landhold Developments with a £13.5m senior facility to fund a car park-to-resi conversion in Clapham, SW4.
Landhold has already secured planning permission for the scheme, which will turn a car park into 36 homes.
The project, known as Clapham Quarter, will deliver technology-enabled one, two and three-bedroom flats. Works are due to complete in Q4 2023.
The development is close to Clapham Common and Clapham South Underground station and 10 minutes away from Victoria.
Ian Burdett, structured property finance, Investec Real Estate, said: “The London residential for-sale market has long been one of our high-conviction strategies, with a reversal of the ‘race for space’ trend caused by the pandemic set to further underpin the market’s resilience.
“Clapham South, with its abundance of green space and excellent connectivity, is one of London’s most desirable neighbourhoods.
“Supporting our more entrepreneurial client base against what is an increasingly challenging backdrop remains a key focus for the bank, driven in part by a belief that they are the lifeblood of the UK construction sector and are essential in meeting the growing demand for housing.”
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