CapitalRise Funds £8.1m Herts Apartment Scheme

CapitalRise, the specialist prime property investment platform, has extended an £8.1m development loan for Heronslea’s luxury 10 unit apartment scheme in Radlett, Hertfordshire.

The completed scheme extending to 14,000 sq ft has been independently valued at £12.2m. The latest loan will take CapitalRise loans, against prime property assets in locations such as Mayfair, Knightsbridge and the Home Counties, to £300m GDV.

Uma Rajah, Co-founder and CEO at CapitalRise, comments: “This high quality development sits in CapitalRise’s sweet-spot, as we increasingly write bigger ticket loans and attract leading professional developers who are drawn to our recognised expertise of the prime market coupled with our ability to provide quick and reliable finance tailored to their needs.

“We’re delighted to be working in partnership with Heronslea, who have a solid reputation for building beautiful developments to the highest standard in this desirable home counties commuter town; we’re confident that this project will be yet another success.”

The London and south east high end residential market remains uncertain due to impending Brexit. This loan represents a vote of confidence in the market by both the developer, as well as the lender.

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Source CapitalRise
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