Alternative investment fund manager Cheyne Capital Management has provided a £103m senior loan to finance the acquisition and development of a residential-led mixed-use scheme in Vauxhall, SW8.
The 279,900 sq ft site – named Graphite Square – has been bought by Australian developer Third.i, which plans to deliver a £200m mixed-use scheme providing 160 one- to three-bedroom homes, 50 of which will be affordable, plus 80,000 sq ft of workspace and 400 sq ft of shops.
The affordable homes have already been sold to Paragon Asra Housing and the office space has been prelet on a 12-year lease to Halkin.
Ben Adams Architects has designed the scheme, which will be Third.i’s second in the UK. It acquired its first property in Battersea, SW11, in 2018.
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