Sol Zakay’s Topland has provided a £36m senior debt bridging piece to privately-held multi-family office LJ Group for a high-end residential development on Bishops Avenue, N2.
LJ Capital’s opportunistic LJ Special Situations Fund A LP exchanged contracts to acquire the five-acre site made up of six plots and 10 existing properties. LJ has retained boutique design-and-build company Harrison Varma as planning and development partner.
Bishops Avenue, which is home to members of the house of Saud and the president of Kazakhstan, has been dubbed “millionaires’ row”.
Zakay said: “Topland always seeks to back the best in class. LJ Group has proved itself to be a very savvy investor and this opportunity is potentially one of the best prospects currently available in the prime London residential property market”.
LJ was advised by Summit Property Advisors.
annable.dixon@estatesgazette.com
