Omni Capital funds £55m pre-development bridge

Located in one of the capital's most exclusive enclaves, the high-end property is situated close to the extensive cultural, shopping and leisure facilities of Knightsbridge and South Kensington. Substantial average asking prices reflect the locale's continuing appeal to buyers seeking elite living in this sought-after part of London.

Introduced by Curzon Land (UK) Ltd., the Mayfair-based real estate advisor founded by Christopher Green, Omni Capital issued credit-backed terms signed by its CEO within 48 hours of the parties' initial discussions.

Secured against residential premises professionally valued at £140m, the multi-million pound facility is for a minimum 6-month term - with the flexibility to extend to a maximum of 12 months - after which it is free from early redemption fees.

Granted to a complex offshore structure, Omni Capital's funding will enable the property to undergo full preparation ahead of large-scale development works planned for later this year. Omni Capital said it expects to be invited to provide indicative terms and pricing for the development funding at the appropriate time.

Colin Sanders, CEO, added:

"A particular challenge presented to us was the arcane structure of the special purpose vehicle to which we were lending. Also, it proved essential to provide detailed terms quickly to assure the borrower of our funding capacity and understanding of the asset. The fact we succeeded on both counts is, I believe, testament to our ability to close complex, high-value transactions of this type with rapidity and efficiency.

"Chris Green at Curzon Land", he continued, "played a key part. Our requests for information and documentation were handled skilfully and promptly. The communication process throughout was well-managed and proved pivotal in delivering a satisfactory outcome for all parties. Our thanks go to Chris and his first-rate team."