Dubai - MENA Herald: BLME Holdings plc (“BLME Holdings”) has today announced the provision of over £13 million in finance to Residence One, a leading developer of luxury properties in Prime Central London.
The financing provided by BLME ensured that Residence One were able to quickly complete the acquisition of a significant unmodernised house on Chester Square. Chester Square is one of the finest addresses in prime London, a market segment where exact location is becoming increasingly important. The Belgravia property will now be developed by brothers Nick and Ben Wilson of Residence One to produce a luxury six bedroom high-quality family home with leisure facilities and staff accommodation set over six floors.
Alice Myers, Head of Property Finance at BLME, said: “This project shows that there are still good deals to be done in London. BLME specialises in development finance, and has successfully partnered with a number of leading developers in the prime London market over the last few years. BLME is well positioned to be able to provide the neces sary financing facilities to make these deals a reality, especially those transactions that need a tailored or require financing in a short timeframe.”
Alice continued: “Chester Square has seen substantial development recently. The project, aims to embrace and enhance the original character of the property, which is highly appropriate for such an established address. Residence One have recently completed successful projects in Wilton Street and Eccleston Mews, both in Belgravia and have quickly developed an impressive reputation and track record in London. “