£36m funding secured for new mixed-use development in Hackney, London

02 October 2018

Peritus Corporate Finance is delighted to announce the completion of a development facility which will allow for the construction of a mixed-use development containing 79 apartments and 40% of commercial space in Hackney, London.

A number of the residential units will also qualify for Help to Buy. The facility is for a total of £36m with a Gross Development Value of over £65m.

The properties will be built to a high specification and build on the developers recently completed schemes in the area. Findon Homes will act as Project Manager for the development.

 

 

The development facility is provided by a specialist development funder based in London.

Peritus Corporate Finance acted for the borrower alongside Gowling WLG’s real estate team.

Steven Oliver from Peritus commented, “We were delighted to be appointed to act on behalf of the borrower on such a prestigious project and would like to thank the Borrowers team and the lender for all their hard work in completing this transaction.”

David Pollock of Findon Homes noted, “This will be the 3rd recent development for us in Hackney and we are continuing to grow our development pipeline in London. I would like to thank both Peritus and Gowling for their hard work in completing this facility which will enable us to move forward and deliver a market-leading development in one of London’s most exciting locations.”