The initial funds were used to purchase the site with the plan to demolish the existing structure and build 88 flats across two blocks, including commercial units at ground floor level.
West One’s senior portfolio manager Michael Cunningham and assistant portfolio manager Jamie Peacham structured the complex deal over several months to ensure a smooth transaction and meet the developer’s deadline.
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This is the sixth scheme that West One completed for the developer.
Guy Murray, head of development finance at West One (pictured above), commented: “We are delighted to complete our largest development transaction to date for a repeat customer.
“It really showcases our ability to fund large transactions with conviction and shows our commitment to helping SME developers build more homes.”