Senior debt facility to fund the acquisition and redevelopment of an office block into 253 residential units under permitted development (PD) rights. Edinburgh Gate is a five-storey office block in Harlow, originally built in 1995 for Pearson plc, and located adjacent to Harlow Town train station. There is further potential to develop a proportion of the car park into additional residential units.
The borrower, Land Charter Homes, is an experienced residential property developer with an extensive track record in the south east, particularly East Anglia. It has carried out a number of PD schemes in various East Anglian locations and has significant experience in this sector.