The Harlech Court site has a gross development value of more than £100m and the 30-storey building is set to be one of the tallest buildings in Wales.

 It will comprise one- and two-bedroom apartments and will feature amenities including a residents’ co-working area, meeting room, gym, residents’ lounge and sky lounge.

The deal was led by Close Brothers’ Structured Finance team.

Phil Hooper, chief executive at Close Brothers Property Finance, commented: “Harlech Court is exactly the type of scheme our Structured Finance team was set up to back: a landmark development in an excellent central location in a capital city that continues to see strong demand for quality rental stock.

•   The Finance Professional Show 2025: The Video
•   Close Brothers launches seventh annual State of Play survey
•   Close Brothers Property Finance expands London lending team with new business development director

“We’re proud to be partnering with Draycott and to be growing our presence in the living sector with the same relationship-led approach that's made us a trusted partner to housebuilders and developers for over 50 years.”

Sajid Ghaffar, chief executive at Draycott Group, added: “This is the largest scheme that we have delivered to date and it will transform the Cardiff city skyline.

“Cardiff is a market we know extremely well, having been active in residential and commercial property development for over 40 years, and Harlech Court builds on that long-standing track record.

“The team at Close Brothers Property Finance have understood our ambition from day one and worked closely with us to structure a facility which has enabled the scheme to move forward at pace.

“Working with a lending partner with similar longevity and a clear commitment to the region has been enormously valuable.”