Katy Katani

CapitalRise advances £2.5m loan for luxury development in West Wimbledon

CapitalRise has completed a facility of over £2.5m to Bluecrest Land for the acquisition and development of two new-build, semi-detached luxury houses in West Wimbledon.

The development is set to benefit from south-facing views, with design and specification expected to be high from the local and experienced prime property developer.

The facility was agreed at 79.5% LTC and 63% LTGDV on a 17-month term.

Katy Katani, associate director at CapitalRise (pictured above) said: “We are very excited to be working on this scheme with such high-calibre entrepreneurial developers. 

“We are highly selective of the deals we fund, and this project is a prime example of the type of high quality scheme and location that we like to support and we look forward to seeing the development progress.”

Robert Du Toit, co-founder of Bluecrest Land, commented: “We’re excited to have secured another site in West Wimbledon where we will leverage our past success in creating two luxury family homes. 

“Working towards a tight exchange deadline over the festive period, we found the availability and speed of CapitalRise exceptional.

“It gives us confidence knowing we have their support and it’s been a pleasure working with Katy and her team who have a very collaborative mindset in their approach.”

This deal follows the finance platform’s recent announcement that it had lent over £100m to property developers since its inception.

Past loans have been provided in some of the most desirable postcodes in prime central London, such as Grosvenor Square, Eaton Square and Knightsbridge, and the prime Home Counties, like Beaconsfield, Radlett and Oxford.  

Some of its most recent facilities arranged include a £7m senior loan for the refurbishment of a property in Notting Hill, London, and a £6.7m loan for the acquisition and development of a former office building into eight luxury residential apartments at Breams Buildings in Holborn, central London.

“Having recently hit the milestone of £100m of loans originated since inception, we are delighted to continue originating loans in some of the most exciting areas of prime London, this time in West Wimbledon,” commented Uma Rajah, CEO and co-founder at CapitalRise.

“We are proud to be maintaining our support to prime developments with the exceptional quality of service and thorough due diligence processes that we value highly.” 

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