Somerford Road

LEXI was authorised to structure development debt for the construction of 46 residential apartments on the South Coast.

On acquisition of the original site, the existing office block had planning for 22 flats. However, LEXI’s client saw the opportunity to add value by building into the airspace above. Our client received full planning to increase the density to 46 apartments and change the facade of the existing property.

LEXI worked with a senior lender who was comfortable with the airspace construction, able to refinance the existing bridging facility and provide 100% of the costs of the project.