“At LendInvest, we’ve always been committed to supporting SME developers, and this project underscores our commitment”
– Steve Larkin – LendInvest
UK property finance asset manager, LendInvest Mortgages, has announced that it has provided £3.74 million in funding for a new residential project in Wokingham.
The loan will support the construction of a three-storey building comprising 14 units, two of which are designated as affordable housing. The funding package includes both a land loan and a construction loan to facilitate the development.
The client is an existing buy-to-let borrower with LendInvest, sourced through a referral from a key debt advisor. The site was formerly occupied by Jewsons, a building merchants’ store that closed several years ago. Existing structures on the site will be demolished to make way for the new building.
The completed development will feature six one-bedroom apartments and eight two-bedroom apartments, bringing new activity to a previously dormant part of Wokingham.
“This development is a great example of transforming former commercial premises into a residential area, supplying 14 new living spaces close to Wokingham’s town centre,” said Steve Larkin, managing director for development at LendInvest. “At LendInvest, we’ve always been committed to supporting SME developers, and this project underscores our commitment. The UK needs more high-quality housing, and we’re looking forward to seeing the potential that this new development can bring to the area.”
Please visit:
Our Sponsor
