Financing boosts 21-home Lewisham scheme

A London-based scheme is set to deliver 21 homes.

Development finance lender Atelier has completed an £8.7 million loan to fund the construction of 18 flats and three houses in Hither Green, Lewisham.

The financing, structured at 67 per cent loan-to-value over 24 months, follows an earlier £550,000 VAT tranche to support the site’s initial purchase.

Harley Stairmand, Atelier lending manager, said: “This project demonstrates how our flexible funding solutions can unlock the potential of well-located sites. 

“By structuring the facility to include a VAT tranche, we enabled the client to progress from acquisition into the construction phase, allowing them to focus on delivering high-quality homes.”

Bosses add the development, which aims to help meet Lewisham Council’s rising housing targets, will “create modern, well-connected homes ideal for young families”. 

Located within walking distance of Hither Green and Lewisham stations, the scheme features a communal garden with an orchard and greenhouse. 

It will be delivered as a car-free development, with two parking spaces reserved for Blue Badge holders.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →