Titlestone Funds 80 Apartments in Royal Tunbridge Wells
Titlestone have recently provided a loan facility of £16.8m to assist an existing client acquire and convert an iconic building in central Royal Tunbridge Wells into 80 residential apartments under Permitted Development Rights.
Steve Mountain, Titlestone Relationship Director commented “We are delighted to be involved in the redevelopment of this important building, bringing it back to life for a new use. Conversions under PDR have been a core part of Titlestone’s business since 2013 and this project combined an experienced developer, a strong location and great product.”
Titlestone is in its 6th year of trading and provides stretched senior debt to established developers across the South of England with loan sizes from £1.5m to £25m, between 60% and 70% of Gross Development Value.