Mixed Use £21.2m Bridge Loan Secured Against Point Pleasant, Wandsworth

Cohort Capital provided a £21.2m, 24-month, first charge bridge loan secured against Point Pleasant, a mixed-use scheme with development potential in Wandsworth, London.

The facility was structured at 64% LTV for 24 months and enabled the borrower to refinance existing debt, release equity, and implement a targeted asset management and capex strategy ahead of stabilisation and exit.

Point Pleasant is strategically located adjacent to Wandsworth Park, near the River Thames, and benefits from strong residential and commercial positioning.

The 1.63-acre freehold site, with a total net internal area (NIA) of 74,895 sq ft, comprises two buildings, Park House and River House, featuring 41 residential apartments and 12 commercial units, arranged around a central courtyard, alongside a cleared development site. The existing buildings, constructed in the 1980s, complement the development site, which benefits from planning consent for 29 additional apartments and two commercial units, offering significant future optionality.

The sponsor has owned the property since the early 2000s and has a deep understanding of the asset and its local market. Their long-term strategy is to increase rental income through active asset management, dispose of individual units and the development site, and exit under improved market conditions following stabilisation, expected within 12–18 months. The borrower’s exit strategy is to either refinance the debt or repay Cohort Capital using proceeds from the sale of other properties within their wider portfolio.

Cohort Capital structured a flexible solution aligned with the borrower’s objectives while maintaining disciplined downside protection.

“Point Pleasant is a great example of the type of transaction Cohort is well suited to support – a high-quality asset with multiple value drivers and a clear asset management strategy. We worked closely with the sponsor to deliver certainty of execution while allowing the flexibility needed to unlock the property’s full potential.” – Tim Lomax, Associate Director, Cohort Capital