CapitalRise provides £17.5m bridging loan for super prime property in central London

CapitalRise has completed a £17.5m bridging loan for a Grade II-listed six-storey townhouse and adjoining mews house in Belgravia, central London.

The senior bridging facility, agreed at 65% LTV, will help the client — a high-net-worth prime residential property developer — renovate the freehold property, currently unmodernised and valued at £27m by Savills.

Lee Francis, lending director at CapitalRise, said: “We are delighted to be supporting the development of this property. 

“Our deep expertise in prime real estate development and our ability to be flexible and move quickly enabled us to originate, underwrite, and complete this loan under tight timelines.”

Uma Rajah, CEO at CapitalRise, added: “To support the rapid growth of our business and the increased demand for finance that we have seen in our sector, we have continued to develop and diversify our funding lines which has positioned us well to do more £15-20m loans like this.”

CapitalRise has continued to see significant year-on-year growth of its business and has now lent against more than £560m GDV of property in its target areas — prime central and outer London, and the prime Home Counties.

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