Office-to-Residential Conversion, Acton
Acton, W3
Project Overview
A first-time developer acquired a vacant office building in Acton and converted it into 12 modern apartments under Permitted Development rights, avoiding the lengthy planning application process.
The Challenge
As a first-time developer, securing competitive development finance was challenging. Many lenders were reluctant to fund without a proven track record, and the project needed careful cost management.
Our Solution
We identified a lender comfortable with first-time developers, securing a 70% LTC facility at 0.85% pm. We also arranged an experienced project monitor to provide the lender with confidence in the build programme.
The Outcome
The conversion completed on schedule, with all 12 units let within 6 weeks at rents above projections. The developer retained the building as a rental investment, generating strong recurring income.
Deal Summary
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