FINANCE: Venn Partners is to lend £97.5m to housing developer HUB for the construction of a 360-home project in London’s Royal Docks, E16.
The Hoola-London development will feature two towers of 23 and 24 storeys. The scheme received planning consent from the London borough of Newham earlier this year. Carillion has been appointed as contractor.
Venn is an asset manager with a focus on asset-backed lending in European markets and has completed £1.2bn of deals in the UK over the past 12 months.
Steven Sanham, development director at HUB, said the next generation of property developments in London were going to be more reliant on alternative sources of debt finance in the future.
