The permitted development rights scheme will convert the 140,248 sq ft campus into 268 flats.

This deal represents Pluto’s largest loan to date.

Mario Ioannides, lending director at Pluto Finance, said that it was delighted to be supporting the development of this residential scheme.

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“This is our largest loan to date and we have a good appetite to continue supporting similar-sized residential developments in and around London, particularly where flats will be registered for Help to Buy.

“It will enable private buyers – and particularly first-time buyers – the opportunity to own their own home in London at affordable prices, starting from as little as £250,000.”

Pluto Finance is on track to lend £500m this year across three of its products.