West One Loans has marked a significant milestone by completing its largest development finance deal to date, a £31.2 million facility to support a £48 million Gross Development Value (GDV) housing scheme in Acton, West London.

This substantial financial package was utilised initially for the acquisition of the site, with plans to demolish the existing structure and construct 88 flats across two blocks. The development will also include commercial units at the ground floor level, adding a vibrant mix of residential and commercial spaces to the area.

The deal, structured by West One’s senior portfolio manager Michael Cunningham and assistant portfolio manager Jamie Peacham, was meticulously crafted over several months. This careful planning was crucial in ensuring a smooth transaction and in meeting the developer’s tight deadline.

This project represents the sixth successful collaboration between West One and the developer, further cementing their productive partnership.

Guy Murray, head of development finance at West One, expressed his enthusiasm about the project. “We are thrilled to have completed our largest development transaction for a repeat customer. This achievement not only demonstrates our capacity to fund large-scale projects confidently but also underscores our commitment to supporting SME developers in their efforts to build more homes.”

This development is a clear indicator of the growing confidence in the housing market, particularly in the development of larger-scale residential projects. It also reflects the increasing demand for mixed-use developments that combine residential living with commercial amenities, catering to the evolving needs of urban communities.

As the housing sector continues to show signs of robust growth, particularly in the area of care home developments, West One’s record-breaking financial support for the Acton project is a testament to the company’s dedication to facilitating significant housing developments across London.