OakNorth provides £16.5m loan to international property investors

OakNorth has provided a £16.5m property development finance facility to Charter Built Group (CBG).

The finance will be used to develop a new residential-led mixed-use 17-storey building at the corner of White Church Lane and Commercial Road in Aldgate, comprising commercial units on the ground floor and 39 residential units on the upper levels.

The site, situated within the City of London fringe will also offer 10 ‘affordable’ units, including one, two and three-bedroom flats.

Subject to planning approval, the creation of three additional one-bedroom apartments will be developed on the first floor. Tenants will be offered a concierge service, as well as access to one of the nearby gyms.