ASK has provided a £25m senior loan to London property development firm, Avanton
The vacant site in North Sheen, Richmond has planning consent for a 453-unit residential scheme which includes 173 affordable units. The site consists of a 56,840 sq. ft. retail warehouse split into two units, formerly occupied by Homebase and Pets at Home, and a 174-space car park.
ASK’s loan has refinanced the existing debt in the structure from ICG, enabling Avanton to progress their business plan. Planning consent for 453 residential units on the site was achieved in May 2024.
Omer Weinberger, CEO of Avanton, said:
“Refinancing this site with ASK will help us unlock the potential of this fantastic development opportunity. We are looking forward to growing our development portfolio in west London with a high-quality mix of private and affordable homes to meet London’s needs. It was a pleasure to work with ASK, we have built a strong relationship with the team and their knowledge and flexibility was much appreciated.”
