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Omni Capital completes £127.5m ‘super-bridge’

  • 16/01/2014
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Bridging lender Omni Capital has completed a loan worth £127.5m for a residential development project in central London.

The lender is describing the deal for 1 Palace Street, a Grade II listed 19th century former hotel building, as a ‘super bridge’.

The 245,000sq ft site will be redeveloped into 78 luxury private apartments with a restaurant, health centre views of Buckingham Palace Gardens.

Omni said the deal was one of the largest ever bridging loans completed in the UK.

“This marks the first of many transactions as Omni Capital starts 2014 and moves into larger ticket deals,” said Colin Sanders, CEO of Omni Capital.

“Extensive knowledge and expertise in all aspects of property and development, especially on deals of this size, combined with Omni’s financial structuring capabilities, enables fast and substantial in-house development funding for experienced investors and development professionals.”

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