The facility marks the third loan from Cheyne to Riverstone, alongside those given for the Fulham Riverside scheme in 2021, and the Riverstone Kensington development in 2022.

The Bishops Avenue scheme will consist of 93 apartments in addition to amenities such as a concierge, chauffeur service, spa treatment rooms, cinema, restaurant, bar and recovery/physiotherapy suite.

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Filippo Alessandria, real estate desk at Cheyne Capital said: “We are very pleased to continue supporting Riverstone with their development… following the success of the Fulham and Kensington residences.

“We particularly celebrate Riverstone’s focus on sustainability, and we look forward to seeing the entirely fossil fuel-free development on The Bishops Avenue come to life.”

John Clark, CFO at Riverstone added: “The demand for new and innovative later living options continues to grow across London, and we are very pleased to be further strengthening our relationship with Cheyne Capital, who share our vision to deliver exceptional residences in prime London locations.