Development finance lender Atelier has completed a £7.6m loan to convert an office building in High Wycombe into 52 apartments, with the funding structured at 66% LTV over a 24-month term.
The permitted development will feature 43 studio flats, eight one-bedroom units, a two-bedroom apartment, and 68 car parking spaces. High Wycombe, located in Buckinghamshire between the Chiltern Hills and London, offers strong transport links and quality schooling, making it an attractive location for new housing.
Atelier continues to focus on high-quality schemes in desirable locations, supporting permitted development as a tool to boost housing supply in the UK.
Luke Eadie, lending manager at Atelier, said, “It has been a pleasure to work with a new borrower and further strengthen our relationship with Brotherton on this permitted development scheme in High Wycombe. We look forward to seeing the delivery of 52 high-quality homes in an excellent location.”
Simon Joseph, relationship director at Atelier, added, “This is the latest in a long line of permitted development schemes we have financed, and we are well placed to advise developers on optimal loan structures for PD schemes. We can’t overlook the role office-residential conversion will play in increasing housing supply.”
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