The properties are located within the Bloomsbury district of the London Borough of Camden, a desirable residential area home to numerous cultural, intellectual and educational institutions. The street itself originally comprised primarily residential properties in the 18th and early 19th centuries, however it now provides a mix of residential and commercial office uses. The subject properties, originally built as terraced single-family dwelling townhouses were converted to office use in the early 1900s.
GFZ Holdings has successfully achieved planning permission for change of use from office to residential on two adjacent Georgian townhouses in Bloomsbury.
ASK provided a senior loan facility against both properties and the loan has now been redeemed with the sale proceeds from one of the two buildings.
Daniel Austin, CEO and Co-founder at ASK commented:
"GFZ has a strong track record for achieving planning for change of use to residential across central London and it has been a pleasure to work with them and to support them on this transaction in Bloomsbury. The plans for the unsold property show an exceptionally well-designed scheme that meets the demands of the discerning buyer in the market for luxury period homes in prime central London. We wish them every success with the remainder of the project."
Noel Leonard, Managing Director at GFZ Holdings added:
"We are very pleased to have reached this successful milestone in the project. Securing finance with ASK was a smooth process and the team demonstrated a clear understanding of the market and our business plan and were able to deliver quickly. We hope to work with them on future acquisitions."
Next/Previous Article
