CapitalRise, a specialist prime property finance company, has provided £7.4 million for a loan to develop two detached properties totaling 17,490 sq. ft on a private 15-acre plot of land in affluent Marlow.
CapitalRise adds that the property will include leisure facilities such as a cinema, gym, games room, bar area, entertainment room, ballroom, and dance floor. The southern plot will include a detached single-story contemporary dwelling with an outdoor pool.
CapitalRise highlights that it continues to provide access to capital for bespoke financing needs for property developers. The company says the most recent deal follows a year of significant growth as the platform continues to enable prime developers to facilitate the growth in demand for luxury developments.
Katy Katani, Director at CapitalRise, said they are proud to be involved with the project in Marlow, working with a first-class delivery team in a desirable location.
“As specialist prime real estate lenders, working with such a first-class delivery team in desirable locations is exactly the type of project we love to fund. We have continued our commitment to lend in challenging circumstances without sacrificing extensive due diligence. This scheme is an example of our commitment to serving the Prime Property development sector, which is renowned for its resilience.”
Manish Babla, at Sterling Professional Finance, who introduced the project to CapitalRise, said he approached CapitalRise having understood their interest in lending on such high-value assets.
“With a full review, credit assessment and site visits, the team at CapitalRise were able to put together an offer, both in terms of an acceptable rate and indeed the loan to value, allowing the client to raise sufficient funds to complete the development and re-pay the current mortgagee. The approach from everyone involved, including the client, was one of flexibility, cooperation and, of course, some give and take.”
CapitalRise is an online investment platform providing access to interesting property projects for smaller investors. CapitalRise accepts just 2% of submitted projects, according to its website. The platform accepts self-certified sophisticated investors as well as other professional and HNW individuals. CapitalRise also offers an ISA for tax-deferred investments.
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