BYM Capital has raised £59.8m from specialist residential lender Pluto Finance to develop one of London’s largest permitted development schemes.
BYM plans to convert the 140,248 sq ft New Horizons Court campus in Brentford, Middlesex, into 268 studios and one- and two-bedroom flats.
The site comprises four buildings, including Sky’s former HQ.
The finance, arranged by BBS Capital, is a 36-month loan facility at a 65% loan to gross development value and is Pluto’s largest loan to date.
Conversion of the properties at New Horizons Court is expected to be completed in early 2019.
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