FINANCE: Titlestone Property Finance is to lend £15.5m on a residential development in South Harrow, West London.
The loan, to an unnamed residential developer, will go towards the conversion of a vacant five-storey office building into 23 studio flats, 45 one-bedroom and 33 two-bedroom flats.
When completed, the scheme will total almost 60,000 sq ft of residential accommodation.
Titlestone is also lending an undisclosed sum to Phix Residential for a 46,400 sq ft residential development in Newmarket, Suffolk. The scheme includes the conversion of an existing commercial building plus new build on a 1.2 acre commercial site.
Titlestone has lent more than £500m to residential developers in the South over the past two years.
sophia.furber@estatesgazette.com
