ASK has provided an £18.2m senior loan facility to support the acquisition of Chiswick Tower, an 18-storey office block in Chiswick, West London. The borrower plans to seek planning permission to convert the building into a 415-bed co-living scheme with affordable housing in the current car park area.
ASK lends £18.2m for co-living scheme
Elliot Blatt, Head of Origination at ASK said,
“Our client has a very sound business plan to repurpose this building, adding value to an already desirable development site. We are definitely seeing appetite for co-living increase, as the model has gained in popularity amongst graduates and young professionals."
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