Merryoaks Property Finance has successfully secured a £3.7 million refurbishment loan, courtesy of Avamore Capital.

The funds will facilitate an extensive renovation project in Muswell Hill, aiming to transform the existing HMOs into nine luxurious apartments.

The renovation plans encompass several key elements, including lower ground floor extensions, adjustments to roof dormers, a single-storey rear extension, replacement of front extensions, enhancements to fenestrations, rooflight installations, cladding modifications, creation of rear terraces, landscaping improvements, and the establishment of a secure cycle store.

This ambitious project is centrally located in the Muswell Hill neighbourhood within the borough of Haringey, London.

The sponsors behind this venture are Jack Jiggens and Ben Richards of XP Property.

Sophia Lee, the relationship manager at Avamore Capital, expressed her delight, saying, “Collaborating with Saam Lowni, managing director and founder of Merryoaks, and the dedicated team at Merryoaks has been an absolute pleasure.”

She continued, “Refurbishments hold a special place in my heart, and this conversion in the vibrant location of Muswell Hill is truly exemplary. The transformation is poised to enhance the charm of this brilliant locale — I’m hoping this is the first of many opportunities for myself, Merryoaks, and the borrower to work together, and I look forward to continuing to build our relationship in the future.”