A vacant plot of land in Isleworth is set to be transformed into a small residential scheme after LendInvest agreed £4.54 million of development funding for a first-time borrower.
The facility will support the construction of nine homes: a four-bedroom detached property and two blocks of three-bedroom semi-detached houses. The funding package also includes the land purchase.
The site, currently occupied by a single building due to be demolished, sits next to a train station in an area of consistently strong demand.
Once complete, the scheme will provide on-site parking with access to electric vehicle charging points.
Steve Larkin, managing director for development at LendInvest, said: “This project is a great example of a property developer with the vision to transform vacant land into an opportunity.
“These nine new homes will add to the vitality of the area, as its proximity to a train station, shopping and a local park will be a draw for future homebuyers.
“During a time when new high-quality homes are needed throughout the UK, SME developers are ready to deliver.
“Since LendInvest’s first development deal nearly 10 years ago, we have always been committed to supporting SME developers throughout the entirety of their project, and this facility reaffirms that.”
