Project Overview
A mixed-use development comprising ground-floor commercial units with 16 residential apartments above, located near Southall station and benefiting from the Elizabeth Line uplift.
The Challenge
The mixed-use nature of the scheme required a lender comfortable with both residential and commercial elements. The developer also needed mezzanine finance to reduce their equity contribution.
Our Solution
We structured a blended facility with 60% LTC senior debt at 0.78% pm plus a mezzanine tranche bringing combined LTC to 85%. This allowed the developer to commit less equity while maintaining strong returns.
The Outcome
Commercial units were pre-let to local businesses before practical completion. Residential units achieved values 12% above initial estimates, reflecting the Elizabeth Line premium in Southall.
Deal Summary
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