CapitalRise announces multi-million pound loan advancement for luxury Ealing development
Originally published by Property Funds World on 5th May 2021.
Dedicated prime property lender CapitalRise has today announced the advancement of a multi-million-pound senior loan for site acquisition and development of two luxury detached houses in Ealing, a suburban, residential district of West London.
This loan comes following the platform’s recent celebrated announcement of £100 million loans originated, against £475 million of prime real estate, since inception.
CapitalRise is one of the only dedicated finance providers for prime developments in prime London and the prime Home Counties. The first four months of 2021 have been a time of significant growth after an outstanding 2020 for CapitalRise, which saw the property finance platform close ten multi-million-pound loans and fund assets worth almost £120m GDV across locations in Kensington Park Gardens, Chelsea and Holborn. Past loans have been provided in some of the most desirable postcodes in Prime Central London including Grosvenor Square, Eaton Square and Knightsbridge.
This new development carried out by Cantata Properties will consist of two mirror image detached houses finished to a high standard. Each dwelling will contain four-bedroom suites, a south-facing private garden and off-street parking.
Ealing is a highly desirable commuter location, offering a balance of green spaces and transport links to Central London and the City by road and rail making it appealing to buyers and developers. Ealing boasts a broad range of high street and premium shops, restaurants and cafes and is home to the iconic Ealing Studios.
Jeremy Ashworth, Director of Cantata Properties said “This is an exciting project for us at Cantata, and one we feel very confident about in no small part due to the relationship forged with CapitalRise, who have immediately proven to be reliable, clear, supportive and encouraging partners, always accessible at the other end of the phone. We are very much looking toward to working with them on this development, and beyond.”
CapitalRise Director of Lending, Nick Oakley, said, “We are proud of our continued support for prime developments in London and the Home Counties and we have been well-placed to do this as a result of our exceptional quality of service. This project is another example of a high-quality development by experienced local developers and we are pleased to be providing funding for this exciting project.”