The facility supported the acquisition of Finsgate House, a freehold site, comprising three interconnected office buildings close to London’s Old Street roundabout. The joint venture will seek planning permission to demolish the existing commercial buildings and provide a residential led development alongside new commercial space.
ASK has provided a loan to a joint venture between residential property development company HUB Residential and global investment firm H.I.G. Capital.
Elliot Blatt, Head of Origination at ASK said:
“This is an excellent redevelopment site and is a great option for a residential-led strategy given its location nearby the soon-to-be-completed Old Street roundabout. The area is due to become a transport hub for both students and young professionals in the city, thus making the development exceptionally well suited to the area."
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