Zorin’s £3m development loan, with a 20-month term and 14-month build period, will finance the acquisition of the site and subsequent development. The loan diversifies Zorin’s portfolio within London with the scheme comprising of four semi-detached traditional style townhouses each with four bedrooms, over three floors and a private garden. The development will appeal to families looking for low maintenance new build housing, well located to amenities, and benefitting from good transport infrastructure.
Bush Hill Park has a buoyant sales market with prices having increased by 2.3% in the last 12 months. There is a particular demand for new build units from buyers currently in more central locations who want more space and can afford to pay higher prices.
The borrower is an experienced developer and will be working with a known contractor who has successfully delivered a number of developments for the borrower. Zorin has been working with the borrower for over six years, and this completion marks the fourth development loan together. We look forward to continuing to build this relationship and delivering schemes to a high standard across North and East London.