Topland provides ?36m bridge
LJ Capital’s opportunistic LJ Special Situations Fund exchanged on the off-market deal in just 48 hours to acquire the five-acre site made up of six plots and 10 existing properties.
LJ has retained boutique design-and-build company Harrison Varma as their planning and development partner.
Sol Zakay, group chairman at Topland, said: “Topland always seeks to back the best in class. LJ Group has proved itself to be a very savvy investor and this opportunity is potentially one of the best prospects currently available in the prime London residential property market”.
Andrew Williams, chief executive officer of LJ Group, added: “We particularly enjoyed working with Topland on this acquisition. Its ability to move very quickly was paramount in enabling us to complete the transaction.”
To date Topland has completed close to 50 loans in excess of £300m. In the third quarter of this year alone, the firm deployed £100m by means of a wide variety of funding structures including joint ventures, bridging loans, senior development loans and mezzanine finance with a focus on prime residential development.