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£11.5m refinancing of converted office block secured for complex ownership structure
Silbury provides additional £33 million loan for 292-home Old Kent Road residential scheme, taking total facility to £101 million
Construction starts on £140m 24-storey Battersea tower
Silbury Finance, the Oaktree Capital Management-backed specialist lender, has upsized and extended an existing £68 million facility to Avanton, the London Property developer, with a new £33 million commitment, which will fund the development of an additional 30 homes at Avanton’s landmark Old Kent Road redevelopment.
The former Carpetright warehouse will now total 292 mixed tenure homes over two blocks, with the additional homes, for which planning has been secured, a requirement for the inclusion of a second staircase. The revised scheme, which has a GDV of c. £160 million, is due to complete in 2027, with 40% of the homes already pre-sold.
To date, Silbury has funded nearly £1.5 billion GDV of development schemes across the UK, focused on the residential-for-sale, build-to-rent, PBSA and retirement living sectors. Backed by Oaktree Capital Management, it is targeting c. £500 million of new lending this year, with falling interest rates underpinning more favourable market conditions and an uptick in new construction starts.
Call Trinity Specialist Finance to secure a multi mullion mortgage on 020 7016 6151 or book a consultation
The information contained within was correct at the time of publication but is subject to change.
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