CapitalRise has extended
the first phase of a bespoke financing package for the redevelopment of a six storey
mansion in London’s Belgravia.
The 5,200 sq ft luxury,
six-bedroom stucco-fronted mansion is located on South Eaton Place. The project includes
changing the internal layout of the property to maximise its potential and will
be carried out by prime central London
specialist developer Leconfield Property Group. An independent valuation
suggests the mansion will be worth £17m on completion.
Uma Rajah, Co-founder and
CEO at CapitalRise, comments: “CapitalRise has become a well-established lender
for unique developments in prime locations across the most exclusive postcodes
in London and
the Home Counties. Our skilled lending team works with borrowers on an
individual basis to quickly create tailored funding solutions that require the
agility and prime expertise that only a specialist lender such as us could
“This property benefits
from an internationally renowned address and we’re excited to witness its
transformation, following its ambitious redevelopment. The borrower has
selected Leconfield, a seasoned developer of prime property with a proven track
record in the local area, to undertake this luxury project and we’re confident
that this will be another success.”
Development finance for
high end property has conventionally been difficult to access. However, this
project is one example of how fintech is making projects that were previously
impossible possible. CapitalRise has now lent against over £315m of prime
property in locations such as Mayfair, Knightsbridge, Holland
and the Home Counties.
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