The deal was led by Arc & Co’s managing director, Edward Horn-Smith, and its asset finance advisor, Cameron Hayes.

The development facility – which was completed in six weeks – will support the construction of 262 residential units by developer Avanton, as part of a larger plan to redevelop London’s Old Kent Road area in collaboration with Housing Growth Partnership.

Arc & Co was able to secure senior debt from Silbury Finance, which was able to structure fixed-rate terms.

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Commenting on the landmark deal, Edward said: “We are very happy to be partnering with clients like Avanton, who are pushing the envelope to deliver well-designed, competitively priced residential schemes and are ahead of the curve in unlocking new parts of London.

“They are a strong developer with a robust track record in London, and we look forward to growing the relationship.”

Cameron added that the choice of Silbury Finance as an institutional partner was a key factor in the success of the deal, and given the dimension of the project and prospective tenor they managed to agree a fixed-rate deal for the client, helping to avoid more costs and interest rate rises.

Arc & Co worked closely with the client to secure the site on an initial bridge loan earlier this year to finalise planning.