CapitalRise closes £4.9m development facility for Chelsea property

CapitalRise received the initial inquiry on 2nd February and issued terms the very next working day. The firm’s recently expanded credit team worked quickly to gain initial backing and secured final approval on 27th February.

The loan, agreed in collaboration with London-based debt advisor Panthera Finance, will fund the acquisition and development of a three-storey, semi-detached house on Cadogan Street.

The completed property will consist of five bedrooms with a private garden. 

Full planning permission has been approved for the residential redevelopment of the existing building and a basement to be constructed under the footprint of the house.

The completed scheme will be set over c.2,700 sq ft consisting of basement, ground, first, and second floors.

Lee Francis, head of origination at CapitalRise (pictured above), said: “The quick turnaround of this facility is a testament to the hard work of the CapitalRise team as well as Panthera and our professional advisors, who all played an integral role in the process of moving the deal along with such efficiency.

“As a business, we are committed to providing specialist, fast and flexible finance for quality borrowers in desirable postcodes — as shown by this loan.

“The funding of this acquisition and subsequent development also demonstrates our wider appetite to lend within the prime property market, and we are proud to be expanding our portfolio in prime locations across London and the Southeast.”