OakNorth Bank has provided £40m in debt finance for a 129 home residential joint venture in Wandsworth.
The project is being promoted by Earlsriver Ltd., a joint venture between developers Chris Mason and Raj Sond, and Orlandis Capital. Orlandis has provided £16m and RS Property Finance £4.4m. The joint venture is also backed by CPC Group, the Guernsey-based residential development business set up by Christian Candy.
As well as 129 homes, including 24 affordable, the development will comprise 12,000 sq. ft. of commercial space and amenity uses.
Andrew Chrysostomou from Orlandis comments: “Orlandis seeks to provide equity and strategic support to established developers. We focus on areas of regeneration, where there is both a need and opportunity to increase and enhance London’s housing stock. Earlsfield is exactly such an area with strong transport links, a vibrant community and unused space which can be re-introduced to the market.”
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