Transaction type: Stretch senior loan – planning
Loan amount: £62.0m
Term: 3 years
Location: King’s Cross, London
Loan secured against a 1.5-acre site in central King’s Cross, currently comprising the former Royal National Throat Nose and Ear Hospital.
Site is considered to have significant redevelopment potential and is one of the last remaining regeneration sites within the immediate area.
ASK originated and structured the transaction, subsequently bringing in OakNorth Bank as co-lender. ASK’s facility includes a profit share arrangement with the client.