Saudi Arabian investor Sanabil have been provided with a £12.7million loan from Octopus Property to fund the acquisition of a residential development site in Chiswick.
Proposals for the site, on Chiswick High Road, include 21 one, two and three-bedroom apartments, alongside a 4,300 sq ft commercial unit and a basement car park. Mayfield Property Group has been appointed development manager and construction is expected to take 18 months.
Gavin Eustace, head of residential development at Octopus Property, said: “This is a well-located site in a sought-after residential area, where we anticipate strong demand for the completed units.
“Working alongside a developer who is backed by a construction company with a proven track record and extensive experience in delivering schemes across the capital gives us added confidence. We look forward to working with all parties on future developments.”