Online real estate investment platform CapitalRise has announced the funding of a £5 million loan for the development of a 13,000 square-foot household on the private Wentworth Estate in Virginia Water, Surrey. The loan will also fund the refinance and demolition of an existing property on the land.
This will be Octagon’s 32nd project on the Wentworth Estate, with the home designed by the in-house team of architects and the project managed through their in-house division.
Angus McQuhae, Director at Octagon, said they are thrilled to be involved with the project, this time alongside CapitalRise.
“Together, with shared expertise in prime real estate and our history of delivering unique projects like this, we are confident the result will be another highly sought-after development, designed and built to the clients’ exacting requirements.”
The deal follows an £8.5 million development loan that CapitalRise originated on the same estate in November 2022, bolstering the firm’s portfolio of luxury property loans.
Since it was founded in 2016, CapitalRise has originated loans against prime property assets valued at £767 million. CapitalRise allows individual investors to participate in the lending process with zero defaults reported by the platform on the loans to date.
CapitalRise is currently raising growth capital on Seedrs.
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