Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

£5.5m Development Loan Secured for Belgravia Townhouse Redevelopment

CapitalRise has provided a £5.5 million senior development loan for the acquisition and redevelopment of a townhouse on Chapel Street in Belgravia. The property, previously uninhabitable and unmaintained for several years, will be converted into a five-bedroom family home.

The townhouse extends to approximately 3,500 square feet across six floors and has remained unoccupied for an extended period. The approved redevelopment plans include a basement extension and the replacement of the existing conservatory with a single-storey extension, which will bring the property to seven levels upon completion.

Structured finance advisory firm Saxbury introduced the transaction, which involved a simultaneous share purchase agreement and required coordination across multiple parties to meet tight completion deadlines. The deal was noted for its complexity and the need for technical structuring.

Planned features for the redeveloped property include air conditioning throughout, a gym and cinema area, video entry systems, and interior finishes designed for the residential market. The project is expected to add to the housing stock in one of London’s most established residential areas.

The Chapel Street scheme is among several complex development finance transactions completed in prime central London this year. The transaction comes at a time when new build housing listings have fallen to their lowest level since 2017, indicating continued pressure on residential supply in the capital.