Growth Business

Boutique property developer secures funding for East London scheme

Scheme will allow NestEast to create nine new apartments and a rooftop garden for prospective buyers.

 NestEast's website homepage: Loved by hipsters

NestEast’s website homepage: Loved by hipsters

High-end property development company NestEast has secured £4.7 million in development finance facility for its latest project in East London.The new scheme in Cambridge Heath Road, Hackney involves redeveloping a former hairdressing academy into nine brand new loft-style apartments with a large rooftop garden.NestEast hopes to complete the development in late 2019, made possible by private equitybacked Shawbrook Bank, which also supplies venture debt to growing businesses.What is NestEast?

NestEast was formed in 2005 and has completed a range of turnkey new-build schemes across East London. The Cambridge Heath Road development will be the largest project the company has done to date.

Zuzie Poskitt, managing director at NestEast says, ‘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 of development finance at Shawbrook Bank says, ‘The Cambridge Heath Road development is an exciting location and NestEast is 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 we want to support and look forward to seeing the project evolve.’

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