Development Finance
£42m Finance Secured for 5 Luxury Knightsbridge Townhouses
PSF secured finance for a prime residential development scheme in the heart of Knightsbridge
Loan Size: £42m
Location: Knightsbridge, London
Loan Type: Development
Security Type: 5 luxury townhouses
Term: 2 years
About the Deal
Our client was looking to finance a prime residential development scheme in the heart of Knightsbridge. The development will provide five luxury townhouses, located less than a hundred meters from the world-renowned Harrods department store.
The Challenge
The scheme had a few quirks which meant high street banks could not finance the development, largely due to the ultra-prime nature of the development and complexities with the site and structure.
The Results
We created a presentation which detailed and laid out the scheme, principles and financial modelling, allowing the funders to assess the qualities from a numerical perspective, as well as to visualise both the site and end product. A data room followed, which provided the further insight needed to underwrite the finer details of the scheme and proceed with a full indicative term sheet.
We also co-ordinated the full capital stack, providing the formation of HNW investors to provide further equity in the deal. A £42,000,000 facility was underwritten for the acquisition of the site, and subsequently to fund the development costs.