Prospect Capital was pleased to fund the refinance of Westwood Farm and provide a capital raise to the borrower. The main asset is located five minutes from Orpington train station and has a direct line into London with a journey time of 17 minutes. Gatwick Airport is a 25-minute drive.
The site is set in 33 acres, consisting of a detached bungalow with a triple garage, 0.64-acre lake, 29 acres of arable land, and four acres of mature woodland. The site also includes a small industrial park where there are 12 light industrial units.
Prospect Capital is working with the borrower to obtain planning consent for the demolition of the industrial units and the erection of eight new high-end residential dwellings and one office building. The Gross Development Value of the site once planning is agreed is £12m.