- GDV at underwriting: c. £100m
- In December 2013, UE executed a whole loan facility, together with its joint venture partner, for the redevelopment of a 12 storey office building with 54 high specification residential units and two retail units totalling a GIA of approximately 105,000 square feet.
- The site is located on Victoria Street, in the London Borough of Westminster, and is surrounded by prominent London landmarks such as Westminster Abbey, the Houses of Parliament and Buckingham Palace.
- The borrower has a strong track record in redevelopment of residential units in London.
Location: Victoria, London
Size: 54 high specification apartments, ancillary retail, residents’ gym and parking