Prospect Capital has provided acquisition bridges for new build apartments. The properties are located along Golden Lane, close to its junctions with Fann Street and Brackley Street, within Barbican; a mixed commercial and residential area, convenient for all local and central London amenities, shops and public transport.
The area benefits from reasonably good demand from both the rental and vacant possession sectors due to being situated on the fringe of the “Square Mile” (Financial district of Central London) and within the Central London employment markets and good infrastructure links.
The subject properties comprise the leasehold interest in one-bedroom, fourth floor flats which are positioned within a nine storey, purpose-built block. The building ‘The Denizen’ is undergoing the final stages of construction and is due to be completed. The Denizen will comprise 99 flats and benefit from concierge, residents' lounge, cinema room and games room.
The assets were purchased as investment properties by Chinese clients.