Wembley, London HA9
Provided a loan worth £44.7m to BSR Wembley Ltd to build 68 one-bed flats and 159 studio flats. The 22-month £44.7 million senior acquisition and development facility will be used to help fund the acquisition and conversion of an office building into a 227-unit residential development, centrally located in Wembley, 9 miles north west of Central London and part of the London Borough of Brent. The development has already received planning approval.
BSR Wembley Ltd is a holding company 20% owned by Sheen Lane Developments Ltd, an experienced property developer and the main contractor, 40% owned by BSR Engineering and Development Ltd, an engineering group specialising in the management of large real estate projects, and 40% owned by Urbanica Dwellings Ltd, a construction and real estate management company.
Commenting, Martin Tynan, Sheen Lane Developments:
“This is an exceptional opportunity to meet a rising demand in the region, as it is upgraded by significant investment initiatives. The project represents a significant opportunity to take part in a growing area, and offer renters and buyers a high-quality residence, with easy access to London city centre.”