The site, which Avamore provided a residential bridge against, is located in Luton. It is comprised of two semi-detached blocks of flats and a detached block of flats. This is a total of 14 x 2-bedroom apartments.
The borrowers on the project were experienced building contractors who had completed a number of previous similar schemes. This included a mixed use project of 32 residential apartments and 4 retail units in the local area.
The 12-month residential bridge was issued at a highly competitive rate. The completed units are expected to sell quickly due to their proximity to Luton town centre and commuter options into central London.