Urban Exposure

Urban Exposure lends £44.7m for 227 flats in Wembley

Urban Exposure has provided a £44.7m loan to BSR Wembley Ltd to build a 227-unit residential scheme in Wembley, north-west London.

The development will comprise 68 one-bed flats and 159 studio flats.

The residential development financier and asset manager has now completed £97.5m of new loans up to 9th September 2019.

The 22-month senior acquisition and development facility will be used to help finance the acquisition and conversion of an office building.

The scheme — which has already received planning approval — has a forecast GDV of £72.8m.

“Wembley Park has been undergoing significant regeneration since Wembley Stadium was redeveloped, and we are excited to be funding an ambitious project at the heart of the area,” said Randeesh Sandhu, CEO at Urban Exposure. 

“Recent improvements have included the refurbishment of Wembley Arena, a new four-star Hilton hotel and the opening of the London Designer Outlet shopping centre.

“The area is at the centre of planning policies in the Wembley Area Action Plan, and is swiftly evolving into a thriving region, close to the centre of London.”

Martin Tynan at Sheen Lane Developments added: “The project represents a significant opportunity to take part in a growing area and offer renters and buyers a high-quality residence with easy access to London city centre.”

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