CapitalRise structures £3.3m loan for the acquisition of Victorian-period Chelsea property

Prime property specialist finance company CapitalRise has structured a £3.3m bridging loan to assist with the acquisition of an end-of-terrace, Victorian house located in Chelsea.

The three-bedroom property is located on a corner plot in the residential Oakley Gardens, situated within the affluent Royal Borough of Kensington and Chelsea, West London.

The property is currently arranged over lower ground, raised ground, and two upper floors with a wraparound front and side garden. It also boasts a lower ground floor courtyard patio. The funding will facilitate the borrower’s planning application to enhance the scheme.

The property is being purchased by an individual with over twenty years’ experience developing properties in Prime Central London. They have also previously completed development projects in the Caribbean and New York.

Lee Francis, lending director, CapitalRise comments: “We are thrilled to help facilitate this exciting project and expand our investment portfolio in Chelsea.

“Our extensive due diligence process, combined with the buyer’s vast experience in the development of high-end residential properties, will ensure that this is a secure, reliable investment opportunity that will enhance one of the most sought-after and valuable areas in London.”

The deal closely follows a £5m loan for the development of a 13,000 sq.ft luxury property on the private and exclusive Wentworth Estate in Virginia Water, Surrey, demonstrating the versatility of CapitalRise’s loan book.

Since it was founded in 2016, CapitalRise has originated £287m worth of loans against prime property assets valued at £794m.

By Mark Adair – Correspondent, Bdaily

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