Sheen Lane Developments has secured a £46.1m loan from Atelier to fund the acquisition and permitted development conversion of Griffin House in Hammersmith, London.
Structured over an 18-month term, the facility will support the transformation of the redundant office building into a new residential development comprising studio apartments.
Paul Silva, managing director at Atelier, said: “We are delighted to be working with the Sheen Lane team again on Griffin House. Having been through the full development cycle together on multiple permitted development schemes, we understand how they operate and the importance of funding that keeps pace with their delivery.
“That understanding was particularly valuable here, where a competitive bidding process meant a tight timeframe to deliver the funding. It also underpins our approach throughout the build: Sheen Lane’s innovative construction techniques and efficient build programmes are well matched to our agile approach to drawdowns. We look forward to supporting the team as they transform this Hammersmith site into a vibrant new residential community.”
Andrew Cooper, director at Sheen Lane Developments, added: “Following the success of 200 Hammersmith Road, we are delighted to be working with Atelier again on Griffin House. The site has a fantastic location, and we look forward to maximising the site’s potential and creating a vibrant residential community. What we value most about working with Atelier is their collaborative approach. This is a complex deal, and their team worked closely with us to understand the structure, work through the challenges and find practical solutions together.”
