The high-net-worth borrower needed the funds quickly to save a separate luxury development in Knightsbridge, which had been affected by unexpected cost overruns.

The loan enabled the borrower to refinance the original debt and fund the rest of the Knightsbridge development.

The lender was able to complete the deal two weeks after receiving the enquiry, providing the £19m loan at 70% LTV, at a rate of 9% per annum on an 18-month term.

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Matt Thame, founder of Cohort Capital, said: “It’s clearly a difficult time for developers, with inflation, higher interest rates, and labour and material shortages all threatening to delay or derail plans.

“Our ability as a specialist lender to provide funding certainty and speed has never been more important, and it’s great to see our client’s project continue uninterrupted as a result.

“However, we expect deal flow to continue at pace in the prime London market, given that real estate can be a good hedge against inflation, and thanks to the amount of liquidity in the market — increasing interest rates will not deter buyers in the high-end markets, given the low supply of good quality stock.”