Barings Real Estate, acting on behalf of an institutional investor, has provided a €62.26m (£53.9M) development loan facility to Meadow Partners for the development of Hathaway House, a mixed-use scheme comprising residential and commercial space, in Maida Vale, West London.
The facility will enable Meadow Partners to construct the circa 100,000 ft² mixed office and residential development which will comprise 74 for-sale apartments, including 19 affordable units and c.20,000 ft² office space, of which around approximately 70% has been pre-let to an NHS Foundation Trust on a 20 year lease.
Chris Bates, Head of Core Mortgage Europe at Barings Real Estate, said: “Through this transaction, Barings is enabling the transformation of a former neglected site into a high-quality mixed-use development which will provide additional housing supply for London. This marks our 14th financing in London as we continue to grow our lending platform across a diverse range of markets and demonstrates our ability across all property types.”
