Vabel has secured a £48.3m loan from OakNorth to develop a mixed-use scheme in Queensway, west London. The project will feature 27 residential apartments, landscaped communal gardens, and 251 sqm of retail space at ground level, with completion scheduled for the fourth quarter of 2025.

All Vabel developments incorporate energy-saving features, including LED lighting, solar panels, thermal efficient glazing, zonal underfloor heating, and air source heat pumps. This initiative is part of a £3bn project in Queensway aiming to deliver over 350 new homes by 2026.

Vabel has been active in London, recently completing developments in Seven Sisters, Kentish Town, and Fitzrovia. A new project in Blackheath is also set to be completed by 2025. The Queensway development is Vabel’s largest project to date since its founding in 2009.

Deepesh Thakrar, senior director of debt finance at OakNorth, commented, “For the last 15 years, Vabel has been delivering successful projects across London with a steady track record of both small scale and larger developments.”

He added, “Vabel’s unique operational model integrating architecture, construction, and project management under one roof, as well as its approach to responsible development, stood out during our Credit Committee. We’re delighted to be supporting the business’ growth, bringing dozens of new homes to a central part of London that’s undergoing a vibrant and exciting transformation.”