Working alongside Triple Point, the facility will support the project in Weybridge to convert a Grade II-listed former college into 15 luxury apartments.

The facility was secured at 65% LTGDV based on an £11.7m GDV over a 24-month term.

This will cover full build costs whilst contributing over £2m towards the acquisition of the site alongside an all-in variable interest rate of 8.75% pa (5% margin over the base rate).

These units will consist of seven one-bed flats and eight two-bed flats. The former will be available from £485,000 and the latter from £1.7m.

A JV partnership — between Oakstone Homes and English Concepts — will take on the partial demolition and refurbishment of the site.

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These will include the re-installation of a clock tower, cupola, replacement of windows and doors as well as landscaping.

The site has been sold by Cala Homes for £3m which has a wider ongoing 320-unit ground-up scheme nearby.

“After a year of close collaboration with Triple Point and the borrowers, we’re delighted to see this development loan reach completion,” said Sam Monk, director at Archway Capital Partners.

“This project is set to become a landmark for Weybridge, breathing new life into a listed mansion building and, as such, we are very much looking forward to seeing these bespoke apartments delivered to the market.”

Patrick Marshall, associate Director at Triple Point, said: “We’re delighted to be supporting this exciting project and are very much look forward to seeing the redevelopment of this historical building over the coming months.”