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UTB provides £6.25m commercial bridge
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Property finance lender CapitalRise has today announced a £6.5m loan to facilitate the acquisition and development of a Mews House in the heart of Mayfair.
The property comprises of a terraced mews house spread across five floors. It is undergoing a transformative development, including a basement slated for conversion into a cinema room, a garage, and a gym, as well as a south-facing terrace.
The planned project aims to convert the existing layout into a three-bedroom residence, with each bedroom boasting its own en suite, set over 3,193 sq ft.
Katy Katani, director at CapitalRise stated: “We are thrilled to be facilitating this exceptional development in Mayfair. We are dedicated to supporting projects that exemplify the epitome of luxury living in London’s most prestigious neighbourhoods."
Development Finance lenders are keen to offer larger loans to experienced developments with a track record of buying, selling and refurbishing properties.
Source: Development Finance Today
Call Trinity Specialist Finance to secure a development finance mortgage on 020 7016 6151 or book a consultation
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