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15/09/2020
Pluto Finance Completes £12m Senior Development Loan For Mixed-Use Scheme
Pluto Finance has a completed a £12 million Senior Development Loan for a residential-led mixed-use scheme by Dominvs Group.
The development is located on the site of The Fox public house in Palmers Green, London.
The 0.64-acre site at One Fox Lane was acquired by Dominvs Group in September 2018. The loan facility from Pluto Finance will enable the redevelopment of the two existing commercial units, along with the development of 54 new one- and two- bedroom apartments, 16 of which will be affordable homes. One of the existing commercial units has been pre-let to a gym provider and The Fox public house, let to Star Pubs & Bars, will be redeveloped with the retention of the existing façade.
Simon Chapman, Lending Director at Pluto Finance, commented: "In the context of these wider uncertain times, the delivery of the scheme would have been delayed if it weren't for the hard work of all parties involved. We are delighted to have completed the development loan for this new client to provide much-needed new housing for the area and look forward to a long working relationship with the Dominvs team."
The development is located on the site of The Fox public house in Palmers Green, London.
The 0.64-acre site at One Fox Lane was acquired by Dominvs Group in September 2018. The loan facility from Pluto Finance will enable the redevelopment of the two existing commercial units, along with the development of 54 new one- and two- bedroom apartments, 16 of which will be affordable homes. One of the existing commercial units has been pre-let to a gym provider and The Fox public house, let to Star Pubs & Bars, will be redeveloped with the retention of the existing façade.
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Simon Chapman, Lending Director at Pluto Finance, commented: "In the context of these wider uncertain times, the delivery of the scheme would have been delayed if it weren't for the hard work of all parties involved. We are delighted to have completed the development loan for this new client to provide much-needed new housing for the area and look forward to a long working relationship with the Dominvs team."
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