Hilltop completes £8.6m loan for residential development in Brondesbury, North West London

by | May 11, 2020

Funds advised by Hilltop Credit Partners has completed an £8.6m loan to 196 Willesden Lane Limited, an SPV controlled by Gage Properties Limited.  

The project is being led by Gavin Essex, a 20-year veteran of UK residential property development with an enviable track record of high-quality housing delivery across London. 

Finance will be used for the site acquisition / demolition and ground-up development of 16 residential units, comprised of one, two, and three-bed flats spread across three low-rise blocks. There will be parking spaces for 14 cars and 24 bicycles. The site is located in a rapidly gentrifying area of North West London, with strong demand for high-quality newbuild stock.  

The development will be a c. 20-minute commute to Central London, and a number of the planned units will qualify for the Help to Buy scheme. Sales are targeted for late 2021 / early 2022. 

The announcement comes at a time when the property market is rife with uncertainty and fears around the pandemic, but Hilltop remains focused on funding high-quality assets and developers. 

Commenting on the deal, Gavin EssexFounder of Gage Properties, said

“We are very pleased to have completed this funding with Hilltop Credit Partners, who helped us get this deal across the line in spite of the headwinds that intervened mid-way through the transaction. We look forward to developing this site, which we have been working on for the past several years, and delivering the sort of high-quality, design-led scheme that we have come to be known for.” 

Paul Oberschnedier, Founder & CEO of Hilltop Credit Partners, commented: 

“We are delighted to be working with such an experienced and talented developer on this project, which we believe will be very well positioned in the local market. Despite the current uncertainties in the world, Hilltop continues to back projects and management teams that it believes in.” 

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Interesting article? Put our experience to work…

OakNorth Bank completes additional £20m loan-on-loan facility to Hilltop Credit Partners

OakNorth Bank – the UK bank powered by the OakNorth platform – has completed an additional £20m...

Hilltop completes pre-development bridging loan for greenfield residential scheme in Braunton, North Devon

Funds advised by Hilltop Credit Partners have completed a £360,000 pre-development bridging loan on a greenfield residential development...

Hilltop completes £3m loan for eco-friendly residential development in South Molton, North Devon

Funds advised by Hilltop Credit Partners, have completed a £3m loan to build a sustainable residential development in the historic market...

Construction in the engine room

It comes as little surprise to hear that the UK economy has just experienced its greatest contraction since the Winter of Discontent in...

Funding could be the one catch that could jinx the planning reforms

Showing no signs of a lockdown fatigue, the housing market is enjoying a fantastic recovery with reports suggesting a growth of 15% in UK...

As seen in...

Logo - Real Estate Capital
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Real Estate Capital
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Real Estate Capital
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Bridging Loan Directory
Logo - Property Week
Logo - IPE Real Assets
Logo - Business Daily News

Register your interest here

 

Let’s talk! Get in touch on +44 (0) 203 903 6369 
or leave us a message below and we’ll get right back to you.

2 + 8 =

Share This

Updated April 2020 - UK Residential Real Estate Market Review 2020
Essential data for property developers and investors alike

Download here