Construction News

07/02/2018

LendInvest Agrees £16m Development Deal With Yogo Group

Property finance lender LendInvest has agreed a £16 million deal to fund the part-conversion and rebuild of a historic building in Enfield, North London.

The deal with Yogo Group will see LendInvest back the redevelopment of the Grade II listed former Thomas Lipton Care Home in Southgate, as well as the construction of new units.

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Once finished, the development will comprise of 24 apartments and six houses.

The total GDV is expected to be above £26 million and construction is scheduled to be completed by March 2019.

Steve Larkin, Director of Development at LendInvest, said: "Working with an award-winning developer is always a comfort for a lender, and we have full confidence in the Yogo Group to deliver the quality bespoke living spaces they are so well known for."

George Philippou, Managing Director of Yogo Group, added: "Yogo Group is delighted to be working with LendInvest to deliver another one of its high quality residential developments in a unique enclave of Southgate."

(LM)

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