loan to value
We provided a £3.5m senior finance facility over an 18-month term to support Acorn Group with its latest development in Poole, in south-west England. The town is situated on the shores of Poole Harbour, which include a quay.
The scheme involved the demolition of an existing pub on the quay, followed by redevelopment of the site. It now provides a new block of nine apartments with retail outlets on the ground floor.
The Harbour Lofts development offers attractive quayside living with endless water activity. This is alongside the benefits of numerous restaurants, bars, boutiques and galleries along the harbour and in Poole just behind.
The property, situated right on the quay, boasts uninterrupted views over Poole Harbour. The units consist of high-quality contemporary apartments, each with some elements of outdoor space. They are a mix of one and two-bedroom homes, plus two larger penthouses.
“This deal shows our appetite to lend across regions as we continue to support developers outside of London.”
Gavin Eustace, Head of Residential Development, Octopus Real Estate