The site will feature 27 residential apartments, landscaped communal gardens and 251 sqm of retail space at ground level, The scheme is scheduled to complete by Q4 2025.

All Vabel developments are constructed with energy-saving LED lighting, solar panels, thermal efficient glazing, zonal underfloor heating and air source heat pumps.

This development is part of a £3bn project in Queensway which aims to deliver over 350 new homes in the area by 2026.

Vabel has been active in London, recently completing sites in Seven Sisters, Kentish Town and Fitzrovia, while a development in Blackheath is due to complete in 2025.

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This development in Queensway is the largest for the developer to date since its inception in 2009.

“For the last 15 years, Vabel has been delivering successful projects across London with a steady track record of both small scale and larger developments,” said Deepesh Thakrar, senior director of debt finance at OakNorth.

“Vabel’s unique operational model integrating architecture, construction, and project management under one roof, as well as its approach to responsible development, stood out during our Credit Committee.

“We’re delighted to be supporting the business’ growth, bringing dozens of new homes to a central part of London that’s undergoing a vibrant and exciting transformation.”