OakNorth

OakNorth provides £29m development loan for mixed-use Clapham scheme



OakNorth has provided a £29.2m development finance facility to Regal London to support the development of a mixed-use scheme in Clapham North.

The development will be spread across eight floors and located at 340a Clapham Road in south London.

The scheme will comprise 62 residential units – including 12 affordable homes – with commercial space on the lower ground and ground floors.

Marc Eden, investment and legal director at Regal London, said: “Last year, we entered into an exclusive strategic joint venture relationship with KKR, which has enabled us to continue building on the company’s successful track record of delivering much-needed, high-quality housing, retail and office space in the capital.

“With this finance from OakNorth, we will be able to continue on that mission in one of the most in-demand areas of London.”

Damien Hughes, property finance director at OakNorth (pictured above), added: “This scheme will [bring] some much-needed new homes and offices to Clapham North – the area has increased in popularity over recent years, attracting buyers with its beautiful Victorian family homes and the fact that it is located just off Clapham Common, with both the Northcote Road and Clapham Old Town within easy reach.

“We look forward to working with the team at Regal London on additional schemes in the future.”

 


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