This 18-month loan structured at 70% LTV will be used to fund the acquisition and demolition of an underutilised garage site, as well as the ground-up development of nine new homes.
The new terrace will include eight three-bedroom houses and one two-bedroom house.
The site also includes car and cycle parking, as well as landscaped amenity space.
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"This scheme demonstrates the value that can be unlocked by bringing brownfield sites back into productive use,” said Raj Hothi, lending director at Atelier.
“The development will replace redundant garages with nine high-quality family homes, creating a lasting positive impact for the local community.
“We are pleased to be supporting an experienced borrower with a strong track record of delivering residential developments."
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