We completed a refurbishment loan of £438k to enable a borrower to purchase and renovate a property in South East London. Planning permission has been granted for the reconstruction of the existing lean-to extension, as well as for a wraparound side and rear extension for the ground floor flat.

The property is situated between the desirable areas of Peckham and East Dulwich. Once refurbished, the flat is expected to attract strong demand from a variety of purchasers, particularly owner-occupiers such as young families or professionals working in central London, due to its large rear garden. The immediate area offers a good selection of amenities, including restaurants, shops, and pubs.

The flat will be spacious, refurbished, and finished to a high modern standard, making it more appealing than existing secondary stock. Although leasehold, the flat will also benefit from a share of the freehold.

The borrower intends to sell the property once the renovations are completed.