CapitalRise Closes £5.6m Development Loan for Grade II Listed Townhouse in Marylebone
Specialist prime property finance firm CapitalRise has announced the completion of a £5.6 million development loan to fund the refurbishment of a Grade II listed Georgian townhouse in Marylebone, one of the most prestigious Prime Central London (PCL) neighbourhoods.
The £5.6 million loan was structured by CapitalRise to both refinance existing debt and fund the development costs to complete the transformation – multiple uses that added complexity to the facility. This bespoke loan reflects CapitalRise’s ability to respond flexibly in support of experienced developers.
The property lies within the Portman Estate Conservation Area, in the City of Westminster, and is situated just moments from Regent’s Park, Hyde Park, and the world-class retail offerings of Chiltern Street and Portman Square. Nearby landmarks include Selfridges, Chiltern Firehouse, and the Nobu Hotel.
The building itself is a four-storey Georgian townhouse, constructed in the 1780s, with rear extensions added in the 19th century. Until recently, the property had been used as a House in Multiple Occupation (HMO) and has since fallen into disrepair. Planning consent has now been approved to restore the building to a single luxury dwelling arranged over five floors, featuring four en-suite bedrooms. The plans will celebrate the property’s exceptional Georgian architecture, while reimagining it for 21st-century living.
The borrowers are seasoned property developers who founded their business in 2012. They have delivered multiple high-value, luxury schemes in the Home Counties and London. As a specialist in PCL development finance, CapitalRise is proud to support them on this milestone project, recognising their formidable reputation for delivering market-leading products.
The deal was originated by Katy Katani, Lending Director at CapitalRise, who commented:
“Manchester Street is a quintessential Marylebone address, and this project represents a rare opportunity to restore a historic townhouse to its former glory. We’re delighted to support such capable developers on this Prime Central London scheme. As PCL specialists, we’re able to add real value for borrowers in this market – offering not just funding, but insight and experience that help bring ambitious projects like this to life. This is exactly the type of prime residential project CapitalRise was founded to support.”
Legal due diligence was carried out by Irwin Mitchell, with Ayesha Hasan, Head of London Real Estate, leading the transaction, supported by Solicitor Delver Punia.
Ayesha Hasan added: “This was a fantastic project to be involved in. Working on a listed building in such a prime location brings its own set of challenges, but our team’s experience and collaborative approach ensured a smooth process. We’re proud to have supported CapitalRise once again on a standout deal in the London market.”
This transaction reinforces CapitalRise’s commitment to funding exceptional prime property projects. While the firm has diversified in recent years – funding schemes across the wider South of England, including in the Cotswolds, St George’s Hill, and Wentworth Estate – Prime Central London remains a core area of specialism, reflecting CapitalRise’s heritage since its founding in 2016.
