With an initial drawdown of £4.76m to assist with the purchase — which is 70% LTV of its current value — a further £2.39m has been made available to completely modernise the 4,062 sq ft apartment.

With a GDV of over £11m, the apartment is set over four floors in a classic Belgravia Cubitt building overlooking Belgrave Square.

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The deal was taken from start-to-finish by underwriter Richard Twedell, with the deal completed on the company’s flat rate product at 0.94% over 18 months.

Exit will be achieved through sale of the property.

Jack Coombs, director at Aspen, commented: “This is an amazing project in one of the most desirable postcodes in the UK and the end result will be spectacular.

“This bridge highlights our appetite to assist good developers on quality projects.”