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CapitalRise funds Chelsea development

CapitalRise has advanced a £2.54m senior loan for the acquisition and development of a property within a period Chelsea townhouse.

The property is being developed by Wilben Developments, a Prime Central London developer that has delivered around £170m of prime residential schemes to date.

This acquisition and development loan was moved from commitment to completion in 21 working days.

Uma Rajah, chief executive and co-founder of CapitalRise, said: “Since the UK lockdown began, many other lenders have struggled to continue to serve the property finance market, but as an agile, tech-enabled business, we have navigated these changing times seamlessly and continue to fund high quality developments cautiously yet confidently.

“This deal was executed quickly, thanks to the expertise and experience of our credit team and the efficiency of our processes.”