Aldermore provides £3.3m to support east London development

Aldermore has provided a £3.3m funding package to property development firm London Standard to support a lock-side scheme in east London.

The development involved the full refurbishment of a cottage and the construction of two new houses and five new flats on an island setting.

The scheme is located next to a former lock on the Stratford Waterways of east London and was overseen by directors Anthony James, Gareth Roberts and Nico Treguer.

The team specialises in developing hospitality, workspace and private rented housing programmes in London.

Simon Knowles, head of property development at Aldermore, said the bank was impressed by the ambition of the developer’s plans. 

“Matching this vision, the London Standard team has excellent experience managing complex projects in unusual locations and we were confident in their ability to see the project through. 

“We are already looking forward to seeing the renovated island now that it is completed.”

Anthony James, director at London Standard, added: “London Standard was founded with the aim of developing complex and innovative property ventures throughout the capital that require imagination and specialist skills to realise their potential. 

“These projects are not easy, and we required a bank with both an ability to understand the scheme and provide a flexible borrowing structure.  

“Aldermore was committed to work proactively with us, especially around all the challenges that come with access and the sort of development we were dealing with.”

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