Funding / Real Estate
INVESTING Individual Investor Financial Adviser Institutional Investor FUNDING Entrepreneur Real Estate
Development lending Reading time: 1 min

Senior finance facility for residential accommodation in Brighton

ÂŁ22.5 million

single loan

24

month term

70%

loan to value

The finance

We provided a senior financing facility to Ktesius Keston LLP, an established residential developer based in central London. Its management team has a significant track record of successfully delivering residential schemes across the South East. 

The site to be developed was a Grade II Listed building in Brighton. It was originally constructed in 1933 and functioned as a cinema until it closed in 1977. It was most recently used as a bingo hall. 

We creatively structured the deal to suit the developer’s requirements by providing funding on a deferred mezzanine position and a VAT bridge. The broker was John Kerrigan of Arc & Co.

The result

The completed scheme comprises 70 self-contained apartments comprising one to four bedrooms, a communal gym, ground floor commercial units, a community room and 72 cycle spaces. 

The building sits opposite Brighton’s Valley Gardens conservation area and benefits from being close to a wide variety of business, retail and restaurant amenities. Brighton’s seafront location has made the town a popular place to live. It is also renowned for diverse communities, quirky shopping areas and a large cultural, music and arts scene.

“We’re pleased to continually support developers across our broad range of products with fast and flexible finance.”

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