Zorin Finance has funded a £28m development on a Sevenoaks brownfield site creating a biodiversity net gain of 45%.
Sevenoaks, a popular and affluent commuter town, has recently seen a 10% sold prices increase on the 2021 peak. With great transport links, local amenities and a relatively low level of development, there is good demand from investors and owner occupiers for new well built developments.
The 3.16 acre site is set on one of the premium private roads in the area, and the architecture of the building will take inspiration from the local typology. The development comprises of a mix of 1, 2 and 3-bedroom units, all with either a private balcony or terrace and access to the communal landscaped podium courtyard and woodland walk. The borrower is familiar with the local market, and units will be completed and fit out to a high specification in line with the target demographics expectations. There will also be one allocated parking space per unit, plus visitor parking spaces and a delivery bay, with 20% of spaces having EV charging facilities.
The landscape will have two distinctive character areas: a formal and ornamental perimeter to the building, and woodland to the rear of the site with a more layered and naturalistic appearance. An active management regime is proposed in the woodland area which will maintain and enhance the sites woodland character, create new wood glades and result in a net increase of onsite tree numbers. Elevated floating steps down to the woodland designed to float over planting and tree roots will be added to encourage residents to explore and enjoy this area.
This is Zorin’s third development loan with the borrower, and they will be using their own in-house building contractor. We are delighted that such a strong counterparty has once again chosen Zorin Finance for their funding needs.