14 December 2018
A boutique development company located in East London, NestEast continues to grow with a £4.7m development finance facility from Shawbrook. Having built a reputation for creating inspiring interior-styled urban homes, the new scheme in Cambridge Heath Road, East London, is their largest project to date.
The acquired building was formerly a hairdressing academy, which is to be demolished to create a brand new development of 9+ loft-style one, two and three bedroom apartments with an expansive rooftop garden. Demolition of the site has commenced and completion of the build is expected in the latter half of 2019.
The development is situated in eclectic Hackney with its varied offerings of amazing green spaces, diverse eating & drinking establishments and thriving creative hub.
Spending time with the team at NestEast, understanding their approach and getting to know every detail of the proposed new project, Shawbrook’s Development Finance team enjoyed putting together a funding proposal that would get the project moving.
Zuzie Poskitt, Managing Director at NestEast commented: “We are thrilled to have worked with Shawbrook Bank on this project. They have proved to be a flexible, creative lender and have shown great commitment to unlocking the potential of this quirky site, which we are so passionate about. We look forward to working with them again on future projects’
Terry Woodley, Director, Development Finance at Shawbrook Bank commented: “The Cambridge Heath Road development is in an exciting location and NestEast are a growing developer with a great ethos, a real focus and a commitment to creating brilliant new homes. This is exactly the sort of development that we want to support and look forward to seeing the project evolve.”
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