The client, an existing BTL borrower of LendInvest’s, will use the loan to build a three-storey building on the site with a total of 14 units.

These will include six one-bedroom apartments and eight two-bedroom apartments. Two of these will be allocated for affordable housing.

The £3.74m package consists of a land loan and a construction loan, with several buildings on the site also needing to be demolished.

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“This development is a great example of transforming former commercial premises into a residential area, supplying 14 new living spaces close to Wokingham’s town centre,” said Steve Larkin, managing director for development at LendInvest (pictured above).

“At LendInvest, we’ve always been committed to supporting SME developers, and this project underscores our commitment.

“The UK needs more high-quality housing, and we’re looking forward to seeing the potential that this new development can bring to the area."