An office building in High Wycombe is set to be converted into 52 apartments with the support of a £7.6 million loan from development finance provider Atelier.
The permitted development will include 43 studio flats, eight one-bedroom apartments and a two-bedroom unit, alongside 68 dedicated car parking spaces for residents.
The loan has been arranged at 66 per cent loan-to-value over a 24-month term.
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.”
