Construction Site

Wellesley Finance provides £8.6m development loan

Wellesley Finance has provided a £8.6m development facility for London-based developer IndigoScott Group.

The facility will be used to fund a project that will see the conversion of an existing office block and the erection of two additional storeys to create 25 new apartments over six floors in Chiswick, west London.

The deal was completed just 12 days after it was requested.

Jay Patel, business development director at Wellesley, said: “Completing on this transaction could not have been done without the professionalism demonstrated by not only IndigoScott, but the assembled professional team.

“This is a perfect demonstration of what Wellesley can achieve when asked to deliver.”

IndigoScott Group has been in the property development sector for over 20 years and has a pre-existing relationship with Wellesley Finance’s origination team.

Jeremy Scott, director of IndigoScott Group, added: “Wellesley took up the challenge of delivering development finance in record time. 

“From start to finish, the service was totally professional and incredibly responsive with a refreshing willingness to solve problems rather than put barriers in our path. 

“I would recommend this ‘can-do’ lender to any developer who is looking for a supportive lending partner.”

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