OakNorth

OakNorth completes £15.3m loan to support luxury Wimbledon development



OakNorth has provided a £15.3m loan to a real estate development company for a luxury residential development in Wimbledon.


Coronado will use the funding to support Montem Square, a collection of seven luxury houses in the centre of Wimbledon Village.

Each house comes with a spacious layout with five bedrooms set across three floors and is designed to complement the village’s heritage.

Coronado expects the properties – which are selling at an average price of £4.4m – to be purchased quickly, with one having already been sold.

Bruce McGlew, managing director at Coronado, said that it was proud of its development at Montem Square.

“The highest-quality finishes influence all aspects of these newly built architecturally designed residences, exuding luxury throughout.

“As contemporary spacious homes each with a good-sized garden, the houses offer the opportunity for families to settle in this popular residential enclave, all within easy reach of the vibrant, dynamic hub of Wimbledon Village.

“The support we received from OakNorth has been invaluable – while this was our first luxury residential venture in Wimbledon, the team considered our track record and past success with similar projects and used this to inform their decision.”

Hemesh Patel, property finance director at OakNorth, added: “The team at Coronado [has] decades of experience in overseeing property development projects – from sourcing, acquiring and planning, all the way through to development, marketing and completion.

“They have successfully completed several large-scale residential projects in affluent parts of London so we look forward to working with them on future projects.”



Leave a comment