Property developer and investor Sterlet has secured a £10.4m loan from Leumi UK to refinance three assets in London located across Fitzrovia, Elephant & Castle and Acton.
The portfolio comprises: 33 Manor Place, a newly refurbished, 22,461 sq ft Grade II listed complex comprising the Manor Place, Wash House and Bath House buildings in Elephant & Castle, which is fully let to Palace Skateboards; a 9,312 sq ft corner office building at 17–19 Foley Street in Fitzrovia; and 179–181 The Vale – a specialist 3,086 sq ft commercial unit let to a telecommunications provider and near Acton Central station.
A spokesperson for Sterlet said: “Leumi UK took a pragmatic and collaborative approach throughout the process, working constructively with us to deliver a tailored financing solution that aligned with our objectives. We look forward to working together as we implement our business plans across the portfolio.”
Marcus Booth, associate director at Leumi UK, added: “It has been a pleasure to work with Sterlet which has an excellent track record of acquiring and developing differentiated properties with strong fundamentals. This transaction demonstrates our commitment to working closely with our partners, and to delivering tailored, highly flexible financing structures that meet our client’s individual goals.”
Sterlet was advised by Brotherton.
