CapitalRise completes £18m of loans across London and Surrey in one month
Originally published in Development Finance Today by Elliot Topham, 17th July 2023.
CapitalRise has completed four loans totalling £18m in May — increasing its loan value origination by 80% from the same month last year.
One of these loans was to fund the acquisition of an end-of-terrace Victorian-period house in Oakley Gardens in Chelsea, London, with plans of gaining permission for a basement extension.
Another two facilities were for the development of two new detached houses in Marlow, and for the refinancing and demolition of an existing property on the Wentworth Estate in Virginia Water, Surrey — this loan is also to partly fund the development of a three-storey, detached house on the same estate.
The final deal was a bridge loan with the aim of the borrower receiving planning permission to build 15 new flats at Hesper House, Wells Park in London.
The firm has recently recorded growth of 125% in its live loan book in the year ending Q1 2023.
Uma Rajah, CEO and co-founder of CapitalRise, commented: “Our ability to operate at speed is something we pride ourselves on as a firm.
“We look forward to building on this momentum and [to] further develop the housing stock in some of the country’s most exclusive and valuable postcodes.”