Investec has provided James Taylor Homes with a £25m loan to redevelop the former Antoinette Hotel in Kingston upon Thames as 89 homes.
The 33-month loan was agreed at a 53% loan-to-cost. It will enable James Taylor to complete its second largest development to date.
Investec worked with the developer to increase the number of units by 12%.
The duo have worked together on a number of schemes, including the Argo business centre in Kilburn and 64 Lincoln’s Inn Field, WC2.
Will Scoular, co-head of structured property finance at Investec, said: “This deal reflects our continued commitment to residential development finance and a desire to further grow our book in the sector, as well as reaffirming our appetite to back exemplary developers in strong locations.”
Emil Sohrab, chief executive at James Taylor Homes, said: “The proposed scheme will offer a broad range of high quality unit types and price points, which we hope will serve the local community well.”
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