Prime property developer SW19 Homes owns the land and has full planning permission for the project, which is expected to complete in March 2020.
CapitalRise’s funding solution also includes an option for the borrower to fund the acquisition of a neighbouring property for development once the current project nears completion.
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“CapitalRise continues to deliver bespoke financing packages to experienced developers that are undertaking exciting prime property projects in London and the Home Counties,” said Uma Rajah, co-founder and CEO at CapitalRise.
“Faced with an acute lack of funding options, borrowers have been impressed with our expert team’s ability to consider the merits and complexities of their individual projects on a case-by-case basis, and provide quick and effective solutions that meet the requirements of the prime market we specialise in.”
Rick Bakhshi, director at SW19 Homes, added: “The expertise of CapitalRise’s team is exemplified by this custom financial package [it has] created to meet our precise requirements for this project.”