Elliot Blatt, Head of Origination at ASK, said:

“We are delighted to be working with HUB and H.I.G. again, their strategy very much resonates with our underwriting approach. Having bought the site for £42m, potentially under market value, the JV has injected significant equity into the project putting ASK’s loan at a sensible loan to value. The partnership has a strong track record and this is an excellent development site. It is a great option for a residential-led strategy given the area’s strong transport links and the considerable inward investment into its housing, retail and public realm supply over the last 10-15 years to transform it into a desirable hub for living."