Transaction type: Senior loan - refinance
Loan amount: £12.5m
Term: 12 months
Location: Clerkenwell, London
Loan secured against a 0.39-acre site in Clerkenwell, London, comprising a former Victorian school building which was last in use as short term office accommodation.
The property benefits from planning permission for new grade A office space, a 153-bed hotel and nine affordable residential units. ASK’s client has secured a pre-let of the hotel element and a pre-let and sale of the affordable units.