Beaufort Provides Senior Debt Facility for £50m Residential Development in Central London
Beaufort is delighted to announce the completion of a facility to fund the construction of a new multi-unit residential development in Kensington, moments from Hyde Park.
The £25m facility will fund the construction of the ten new residences. The homes will feature thoughtfully-designed layouts that incorporate interior and exterior spaces and luxury finishes, while being positioned in a highly desirable London neighbourhood.
Additionally, the development will boast strong ESG credentials, including air-source heat pumps, PV panels, and dedicated cycle parking for each unit.
The property, once completed, is projected to have a GDV in excess of £50 million.
The borrower group is a highly-regarded developer of residential accommodation in Prince Central London, with an enviable track record of development in some of London’s most sought-after addresses.
Joe Flaherty of Beaufort Capital commented, “We are delighted to have completed this facility with one of London’s leading residential developers, a repeat client of Beaufort.
“This project will be a rarity in the Kensington area; new-build family homes, which will transform a dilapidated 1950’s building into a re-imagined street scene.
“It is great project to be a part of, and we look forward to working with the developer as the scheme takes shape over the coming months”
This transaction demonstrates Beaufort’s ongoing commitment to supporting high-quality design-led developments across the UK residential market, as well as its continued interest in regenerative projects that enhance UK communities. Beaufort is currently funding a number of residential projects across the UK, with a recent increase in demand from borrowers to further expand their residential development portfolios.
