Transaction type: Senior loan - acquisition & planning
Loan amount: £8.9m
Term: 2 years
Location: Streatham, London
Loan secured against a two-acre potential development site in Streatham, South West London, currently comprising a two-storey Homebase store and associated parking. The property is let to Homebase on a lease expiring in November 2023.
ASK’s client intends to obtain planning permission for a residential-led mixed-use scheme of approximately 250 units alongside new commercial and retail space.
Site is income producing for the duration of the loan term and is considered to offer significant development and value uplift potential.