The acquired apartments are part of the 182 metre tall Amory Tower, a residential development that comprises 423 units and offers far-reaching, panoramic views of London. 104 of the units in the development are affordable and accommodate the lower floors, accessed via a separate entrance. The borrower has acquired 133 private apartments with virtual freeholds, situated on floors 28 and above. 100 of these apartments have outside space and the majority are let on assured shorthold tenancy agreements.
The tower offers exceptional accommodation in the thriving and now well-established Canary Wharf community. A pool, gym, and residents’ lounge with terrace space contribute to a riverside lifestyle within easy reach of the immediate financial district and now only 10 minutes into the West End or 20 minutes into Paddington on Crossrail. Furthermore, the addition of Crossrail will certainly open up the market to a greater pool of professionals working across London.
This is the second significant co-loan that ASK and OakNorth Bank have completed together since they announced that OakNorth had purchased 50% of ASK shares in October last year and highlights the pair’s strategy to support each other in the UK real estate market.
