Mumbai-based developer Lodha Group is lining up finance for the Canadian High Commission’s MacDonald House.
The firm is understood to be talking to lenders including JP Morgan and Apollo to provide up to £180m senior and mezzanine debt. The loan is expected to be for a term of around 15 months, enough time for the developer to secure planning permission for the site, which is to be redeveloped as a super-prime residential scheme.
Lodha bought the 125,000 sq ft building at 1-3 Grosvenor Square, W1, from the Canadian government for £305m in November last year.
bridget.oconnell@estatesgazette.com
