Development finance lender Atelier has completed a £46.1m loan to Sheen Lane Developments to fund the acquisition and permitted development conversion of Griffin House in Hammersmith, London.
The 18-month facility will support the conversion of the redundant office building into studio apartments.
Griffin House sits between Hammersmith and Olympia, a six-minute walk from Hammersmith station in London Zone 2.
Atelier has previously provided development finance to Sheen Lane on permitted development schemes, including 200 Hammersmith Road. A competitive bidding process left a tight deadline for the funding, and the two teams worked through the transaction’s complexities to deliver the development finance within it.
“We are delighted to be working with the Sheen Lane team again on Griffin House,” said Paul Silva, managing director at Atelier. “Having been through the full development cycle together on multiple permitted development schemes, we understand how they operate and the importance of funding that keeps pace with their delivery.”
“That understanding was particularly valuable here, where a competitive bidding process meant a tight timeframe to deliver the funding. It also underpins our approach throughout the build: Sheen Lane’s innovative construction techniques and efficient build programmes are well matched to our agile approach to drawdowns. We look forward to supporting the team as they transform this Hammersmith site into a vibrant new residential community.”
“Following the success of 200 Hammersmith Road, we are delighted to be working with Atelier again on Griffin House,” noted Andrew Cooper, director at Sheen Lane Developments. “The site has a fantastic location, and we look forward to maximising the site’s potential and creating a vibrant residential community.”
“What we value most about working with Atelier is their collaborative approach. This is a complex deal, and their team worked closely with us to understand the structure, work through the challenges and find practical solutions together.”
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