The loan — which will facilitate the demolition of a two-storey and single-storey office building — will finance the construction of a terrace of six townhouses in addition to four apartments.

Bexley Property Investments and the short-term finance provider were able to discharge pre-commencement planning conditions, including archaeological and contamination surveys.

•   DFT roundtable: Aggressive business plans, development delays and managing expectations
•   Blackfinch Property aims to widen distribution
•   Blackfinch Property completes £6.7m loan for Hackney residential development

Chloe Young of the Blackfinch in-house legal team (pictured above) said: “This development includes four one-bedroom apartments with good commuting links to London, making them an ideal opportunity for first-time buyers.

“This is the second deal we have completed with this borrower, so it was great to be able to build on an existing relationship and help fund another exciting development.”

Blackfinch Property recently announced plans to reach out to more brokers and developers.