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- OVERVIEW – CapitalRise is providing a bridging loan to the Borrower who owns the Property known as Hesper House, Wells Park Road, London, which has planning permission to build 15 luxury flats. The borrower owns the site unencumbered and the loan will provide equity release to reimburse some of the acquisition and planning costs he has incurred to date. The bridging loan will allow the Borrower enough time to prepare for the development works, which will be financed by a further development loan facility with either CapitalRise or another lender. At this point, investors in this loan will be repaid, and if the Borrower opts to refinance with CapitalRise then investors will be offered the opportunity to invest in the development loan.
- LOCATION – The Property is located in Upper Sydenham in the London Borough of Lewisham. The Property lies between Dulwich and Crystal Palace and is well served for local shops, cafés and other amenities. A number of outdoor public spaces are in close proximity, including Sydenham Wells Park, Crystal Palace Park and Norwood Park.