Zorin Finance Completes an £18m Development Loan in Staines

Zorin Finance, the alternative property lending specialist, can announce a new £18m development loan in Staines upon Thames, Surrey. The sponsor, Stonegate Homes Limited, is a well established brownfield property developer who specialises in delivering affordable good quality housing, and has both the skills and expertise to develop the scheme to meet the growing local demand for this home type. This is the first transaction between the borrower, Stonegate Homes (Staines) Limited and Zorin, and we look forward to continuing to grow this new relationship.

Zorin’s 28-month loan will assist with the re-financing of the site and then subsequent conversion of the three vacant office buildings into 103 one and two bedroom apartments. The scheme is located less than one mile from the town centre, and has attractive resident benefits including at least one allocated parking space per unit, a limited premium locally, and access to the communal gardens surrounding the lake with ground floor units also having private terraces. These amenities will particularly attract buyers who will enjoy this unique mix offered; having both 6.8 acres of private green space and a short 35 minute commute into London Waterloo.