ASK Partners, a specialist property lender, has provided an £18.2 million senior loan facility to facilitate the acquisition of Chiswick Tower by a private client investor. The loan, structured for a 24-month term, aims to support the redevelopment of this West London office block into a modern co-living space.

Located in the affluent Chiswick area, adjacent to Gunnersbury Park and the local tube station, the property spans a two-acre site and includes a basement, ground floor, and 17 upper floors of office space. Currently, the building does not meet the market’s increasing standards for high-quality office environments.

The investor’s vision is to transform the existing structure into a 415-bed co-living scheme, which will also incorporate an affordable housing scheme on what is now the car park area. This plan reflects a growing trend and demand for co-living arrangements, particularly popular among graduates and young professionals in London.

Elliot Blatt, head of origination at ASK, expressed enthusiasm about the project, highlighting the strong business plan aimed at adding value to this prime development site. Blatt noted the rising popularity and success of co-living setups in the city, underscoring the strategic nature of this investment in catering to emerging housing trends.