Topland has provided £12m in acquisition and development finance to an overseas high-net-worth individual planning a super-prime residential development in Mayfair.
The Topland financing is for three luxury new build duplex apartments with a gross development value in excess of £30m at 6 Upper Brook Street opposite the American Embassy site. The 7,000 sq ft scheme behind a classical architectural façade is designed by Stanhope Gate Architects. The residences each have a roof terrace and a discrete secondary entrance from Lees Place.
Fenton Whelan whom Topland has funded previously on schemes in Knightsbridge, Mayfair and Belgravia has been appointed as interior designer and development manager.
Topland Group is led by billionaire Sol Zakay who said: “This funding demonstrates that Topland is continuing to provide high-end residential development finance. Others in the market have fallen away but we remain committed to funding prime and super-prime residential. For us location is critical and we know Mayfair and its strengths exceptionally well.”