Mortimer Street Capital has arranged a £4.1m development exit bridging facility for a client who had recently built a 22-unit scheme in a gated development in Surrey.

Aspen's latest bridge for an international client is helping to cement its growing prominence in the high-end London market.

The borrower plans to redevelop an exclusive Mews House in the super-prime residential location.

The development, 'Raleigh House' is located on the site of the original headquarters of the bike company, Raleigh Bikes.

Shawbrook's support ensured that the developers were able to successfully complete the project despite covid-related supply chain issues.

The 12-month loan was underwritten at a 75% LTV.

The agreement follows the lender's announcement of a £250m bank funding line secured earlier this year.

The bridging and development lender has announced that it has closed a £16 million hybrid acquisition and refurbishment facility with a multi-national real estate asset...

United Trust Bank is providing £15m of funding towards the development of 32 luxury apartments in Newquay in Cornwall.

This is the second loan that Gresham House has agreed with Leumi, after previously agreeing a facility to support the 229-unit Ironworks BTR development in Sheffield.