The funds will be used to carry out an extensive renovation of the property in Muswell Hill, to convert the current HMOs into nine luxury apartments.

The work includes lower ground floor extensions for the basement and lightwells, roof dormer alterations, a single-storey rear extension, replacement of front extensions, new and improved fenestrations, installation of rooflights, cladding modifications, creation of rear terraces, landscaping enhancements, and provision of a secure cycle store.

The project is situated in the centre of the Muswell Hill neighbourhood within the borough of Haringey, London.

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The sponsors are Jack Jiggens and Ben Richards of XP Property.

Sophia Lee, relationship manager at Avamore Capital said: “Collaborating with Saam [Lowni, managing director and founder of Merryoaks] and the dedicated team at Merryoaks has been an absolute pleasure.

"Refurbishments hold a special place in my heart, and this conversion in the vibrant location of Muswell Hill is truly exemplary.

"The transformation is poised to enhance the charm of this brilliant locale — I’m hoping this is the first of many opportunities for myself, Merryoaks and the borrower to work together, and I look forward to continuing to build our relationship in the future."