The loan to property developers Nicole Bremner and Avi Dodi will be used to develop the penthouse apartments in the City Approach building on City Road, near to Old Street and Liverpool Street underground stations.

The funding will also be used to develop a four-storey apartment building in Dalston Lane, Hackney, consisting of nine residential units and commercial space on the ground and basement floors.

The property developers have completed over 10 projects together in the past with a combined GDV of £64m.

•   OakNorth completes £17.5m loan for student accommodation schemes
•   OakNorth supports major commercial development in Whitechapel
•   Plans to renovate derelict Savoy Cinema approved

In a joint statement, Nicole and Avi said: “We have successfully completed projects across London both together and separately in the past, including in Hackney, but this is our first in Tech City, so we’re very excited to get started.”

“OakNorth’s support has been invaluable - the team have excellent knowledge of the London property market and were as committed to getting the deal done as we were, which was very refreshing.”

Priya Chauhan, debt finance director at OakNorth, added: “Both Nicole and Avi have an exceptional track record of delivering mixed-use, resi and commercial projects across London together and separately, and we look forward to working with them on additional deals in the future.”