Riverstone secures £143m loan for Hampstead later living development

Cheyne Capital Real Estate has provided a £143m development loan to later living developer Riverstone for a site in Hampstead, north London. The scheme, on The Bishops Avenue, will consist of 93 flats as well as amenities such as a concierge, chauffeur service, spa treatment rooms, cinema, restaurant, bar and recovery and physiotherapy suite. It is expected to open in 2025. The deal marks the third loan that Cheyne has made to Riverstone, the first being for the Fulham Riverside scheme in 2021, which has since been repaid, and the second for the Riverstone Kensington development in 2022. Filippo Alessandria of Cheyne Capital said the development will be entirely fossil fuel-free. John Clark, chief financial officer at Riverstone, said that demand for “new and innovative later living options continues to grow across London”. He added: “Our continued focus is to develop residences that are at the forefront of sustainability with strong social value credentials, working with the local community.” Image courtesy of Prosek Partners