Transaction type: Senior loan - acquisition & planning
Loan amount: £11.05m
Term: 18 months
Location: Barnet, London
Loan secured against a two-acre brownfield development site in a predominantly residential suburban location in north London. The site comprises two warehouse-style buildings, formerly operated as a car dealership and repair workshop.
ASK’s client intends to obtain planning permission for a new mixed-use development of approximately 180 residential units and 18,500 sq ft of retail space.
Site is brownfield and is considered to offer significant redevelopment potential, with capacity to provide a considerable number of much needed new homes in the London Borough of Barnet.