Puma Property Finance has loaned £50m to Scape Living for its Blackhorse Lane quarter, Walthamstow, E17, co-living scheme with APG.
The development, directly opposite Blackhorse Road Underground station, comprises 273 homes as well as new commercial co-working areas and a flexible performing arts events space.
Scape Living received approval for the scheme in December 2022 and construction is expected to commence by Q2 2023.
Once built, the project will complete the latest phase of a £3bn+ regeneration of the local area, which will have provided more than 2,500 new residential living units across BTR, co-living, PBSA and build-to-sell.
Shane Ryan, director at Puma Property Finance, said: “The transformation of the Blackhorse Lane area is not only helping to address the acute housing shortage in London but is creating a diverse and sustainable community.
“This is the largest loan that Puma Property Finance has provided to date, and it is telling that the funding will be used for a substantial co-living development, a sector in which we believe strongly and which looks set for significant growth in the coming years as it attracts further institutional capital support.
“More and more people are discovering the benefits of the co-living model, which provides increased certainty of costs as well as providing a sense of community alongside state-of-the-art accommodation and amenities.”
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews
