This will fund the acquisition and redevelopment of a townhouse on Chapel Street, turning this currently uninhabitable property into a five-bedroom home.

Arranged over six floors and extending to approximately 3,500 sq ft in its current form, the townhouse has remained unoccupied and unmaintained for many years.

The approved redevelopment will include a basement extension and the replacement of the existing conservatory with a new single-storey extension. Upon completion, the property will provide accommodation across seven levels.

Planned features include air conditioning throughout the property, a gym and cinema area, video entry systems and premium interior finishes.

The transaction — introduced by structured finance advisory firm Saxbury — involved a simultaneous share purchase agreement, demanding execution timelines and close collaboration across multiple parties to ensure a timely completion.

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"This was one of our more complex transactions and is a great example of CapitalRise's ability to navigate challenging situations whilst maintaining certainty of execution for our borrowers,” said Raf Chowdhury, lending director at CapitalRise.

“The deal required us to manage evolving circumstances, a simultaneous share purchase and tight completion deadlines, all while delivering a structure that worked for every party involved.

"We're delighted to support an experienced sponsor in transforming this historic townhouse into a high-quality family home, and I'd like to thank all of the teams involved, whose collaborative approach helped bring this transaction to a successful completion."

Kristian Hoy, head of structured finance at Saxbury, added: "Throughout the process, CapitalRise demonstrated an exceptionally collaborative and solutions-focused approach, working closely with all parties to navigate evolving circumstances and maintain momentum towards completion.

“Their flexibility, commercial mindset and commitment to finding practical solutions were instrumental in achieving a successful outcome.

“We look forward to seeing this outstanding scheme delivered, creating what we believe will be one of the finest residential developments in one of London's most prestigious neighbourhoods."