The loan deal has been put together over a four-week period with advisory firm Domus Nova Finance.

The 18-month, 65% LTV senior debt facility will be used to acquire the property and then carry out refurbishment works.

This property currently hosts a nursery over the ground and lower ground floors, but plans are now being made to convert this into a single three-bedroom flat.

“We are pleased to have completed this deal within a relatively short time frame, enabling the developer to make the purchase and carry out their conversion plans,” said Edward Matthews, CEO of Mera.

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“Prime London lending is a part of the market we feel very comfortable operating in, and it’s exciting to play a key role in bringing forward borrowers’ property ambitions through our funding.”

The building, which is listed, is valued at £6m.

Kristian Hoy, head of finance at Domus Nova, added: “Challenges notwithstanding, the Mera team showed true professionalism and over delivered on all aspects. 

“Having a genuine understanding of the prime central London asset class and HNW buyer profile for the completed project was a real benefit.

“Continuous communication with the client, lawyers, and professional advisors — often out of office hours—meant that we could meet the critical completion deadline.”