The loan will be used for the site acquisition and ground-up development of 98 residential units in three phases, and all units will qualify for the Help to Buy scheme..
The project—managed by award-winning construction industry veteran John Darling—is located within walking distance of the Ashford Design Outlet and near the Netflix studio and mixed-use development currently under construction.
Funds advised by Hilltop also provided a bridge loan for the VAT payable in conjunction with the site acquisition.
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Tiger Craft, CFO and partner at Hilltop Credit Partners commented: “We are seeing strong demand for our product, and are pleased that the team we’ve built over the past two years is functioning at full speed.
“It’s been a pleasure to work with this talented management team, and we look forward to doing more with them in the future.”
Richard Pascoe, director of Pascoe Property Developers Limited, said: “We are excited to be partnering with Hilltop on this development in a vibrant, rapidly growing area. Hilltop’s experience in real estate development and finance has been invaluable in making this deal work.”