The 22-month loan — agreed at 74.59% LTC and 62.50% gross LTGDV — will enable the completion of the scheme, which already received planning permission and listed building consent.

The three-storey houses with basements will be located next to Jack Straw’s Castle, a Grade II-listed building and landmark in Hampstead.

The development is expected to be completed within 22 months and both properties are expected to be sold at exit. 

“We are exceptionally proud to be working with the developer to finance these luxury properties located on the grounds of Jack Straw’s Castle, such a prominent landmark in Hampstead Heath,” said Katy Katani, director at CapitalRise.

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“We worked very closely with the developer to construct a tailored finance package and we look forward to watching the development progress.

“As we move through the year, we are proud to continue to serve experienced prime property developers with bespoke, flexible, and cost-effective funding.”

Uma Rajah, CEO at CapitalRise, added: “We are very excited to be involved in this project because it is so rare to have the opportunity to fund a new build development in Hampstead, which is such an iconic part of London.

“As specialist prime real estate lenders, working with very experienced property developers in these highly desirable locations is exactly the type of project we love to fund.”