Developer secures financing for Marylebone townhouse transformation
October 1st, 2025
Consented plans allow the former IIMO to be reinstated as a single grand residence. Specialist property finance firm Capital Rise has dished out a £5.5mn development loan to fund the refurbishment of a Grade II listed Georgian townhouse in Marylebone.
The borrower – a seasoned property developer in London and the Home Counties, who founded their business in 2012 – has refinanced existing debt to complete the project.
Located within the Portman Estate Conservation Area in Westminster, the fourstorey Georgian townhouse was originally built in the 1780s, with rear extensions added in the 19th century. It was until recently used as a House in Multiple Occupation (HMO), but has planning consent to be restored to a grand single residence.
Approved plans allow for four ensuite bedrooms across five levels, retaining Georgian architecture while adding all the luxury modern accoutrements.
The loan deal was originated by Katy Katani for CapitalRise, and was introduced by Emily Bevens of LEXI Finance. Legal due diligence was carried out by Irwin Mitchell.
“JLL report that over the latest ten-year period, housing stock has only increased by 1.9%.”
“Manchester Street is a quintessential Marylebone address, and this project represents a rare opportunity to restore a historic townhouse to its former glory. We’re delighted to support such capable developers on this Prime Central London scheme. As a lender with a specialism in PCL, we’re able to add real value for borrowers in this market – offering not just funding, but insight and experience that help bring ambitious projects like this to life. This is exactly the type of prime residential project CapitalRise was founded to support.”
Katy Katani, Director, CapitalRise
“We ran a competitive tendering process for this transaction on behalf of our client and CapitalRise rose to the occasion, offering good pricing, excellent experience and transactional certainty. We’ve seen an uptick in PCL developments in the past few months and are seeing lenders increase leverage to win business, which is great for borrowers looking to drive their ROI.”
Emily Bevens, Senior Associate, LEXI Finance
“This was a fantastic project to be involved in. Working on a listed building in such a prime location brings its own set of challenges, but our team’s experience and collaborative approach ensured a smooth process. We’re proud to have supported CapitalRise once again on a standout deal in the London market.”
Ayesha Hasan, Head of London Real Estate, Irwin Mitchell
Read the original article in PrimeResi here.