Sheen Lane has secured a £37.7m loan from Atelier to fund the firm’s permitted development conversion of 200 Hammersmith Road into 118 new residential apartments.
The loan is structured at 70% LTGDV over a 15-month term.
Paul Silva, chief financial officer at Atelier, said: “We’re pleased to be supporting Andrew and the Sheen Lane team again as lender on this well-located permitted development scheme in Hammersmith. We have been involved with the asset for some time and with financing now in place we look forward to supporting the delivery of a well-designed office-to-residential conversion that will provide high quality rental accommodation in a prime location.”
Andrew Cooper, from Sheen Lane Developments, added: “We are delighted to be working with Atelier again on what is the first permitted development scheme of scale to be approved within Hammersmith and Fulham. 200 Hammersmith Road is an exemplar conversion project being an attractive, well-constructed building in a sustainable and desirable residential location. We are excited to get going and Atelier’s market leading day one advance will allow us to get ahead in the delivery of this landmark project.”
