Completed this month is a mews house refurbishment finished to the highest standards and also skilfully developed to create spacious accommodation with the addition of basement living rooms.
The innovative concept has involved a substantial basement dig out and complete new mansard roof that has brought the total accommodation to some 1,944ft², increasing the living space by a third.
Our developer client has brought their wealth of experience to produce a quality development that features a SieMatic kitchen, cinema room, master bedroom suite with dressing room, marble bathroom and a private roof terrace with outside fireplace.
Two further bedrooms, each with ensuites, and an integral garage, complete the living space.
The character of this Victorian mews house has been brought into 21st century living with the integration of Control4 lighting, surround sound, air-cooling and underfloor heating.
The property has been released at £3,995,000 and Saxon Trust (perviously Calmez Ltd) have supported the project with mezzanine funding facility of £450,000 on a term of 12 months.
The developer will achieve a return of around 150% on his cash equity.
Project summary: An imaginative refurbishment of a mews home into a 3 bed / 3 bath format finished to the highest of standards.
Project GDV: Around £4 million.
Saxon Trust Mezzanine Funding Provided: Saxon Trust have provided a mezzanine funding facility of £450,000 at a fixed rate of interest.
Funding Security: Second charge with an agreed Deed of Priority.
Developer Funding Facility Period: A mezzanine funding facility of 12 months was agreed with an early redemption option.