Grade II-listed property in Kensington

Avamore provides £675,000 bridge for apartment in Grade II-listed property

Avamore Capital has provided a facility of around £675,000 to a borrower based in the Middle East for a two-bedroom apartment in a Grade II-listed property in Kensington (pictured above).

The facility has allowed the borrower to refinance loans from an existing bridging lender with the aim of refinancing on to a long-term finance deal in the coming months.

The property is a few minutes away from Holland Park station and Westfield Shopping Centre.

Zuhair Mirza, principal at Avamore Capital, said: “We are delighted to have closed our first deal with this particular borrower.

“The deal ran smoothly throughout the process with everyone involved contributing throughout.

“We were introduced to the borrower by existing customer Nadeem Hayat, who is also a top-level broker, and we hope to close many more deals with Mr Hayat in the future."

Amit Majithia, principal at Avamore Capital, added: “This deal marks another step towards achieving our aim of closing £100m of new business by the end of 2018.

“We are working further with brokers and customers throughout this year and the next to provide additional specialist lending."

Avamore Capital was represented by David Powell of TWM Solicitors, while the borrower was represented by Zoe Patel of Jury O’Shea LLP.

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