Major office-to-residential development completed

A major new building project in Romford to convert a former disused office building into residential apartments has been successfully completed, thanks in no small part to the role played by professional valuers at Robert Sterling Surveyors.

Working closely with Amicus Property Finance, and its client – the property developers Smith Homes 6 Limited – Robert Sterling helped to ensure the funding was available to convert two, inter-connecting five-storey office buildings in Mercury Gardens into 75 new ‘phase 1’ flats.

The development of Chaucer House and Hexagon House into Verve Apartments proved so successful and popular that more than 75 flats were pre-sold off plan.

Arwel Griffith FRICS led the Robert Sterling team, providing the initial valuation and subsequent confirmation to enable Smith Homes to secure the development capital required, and give confidence to Amicus Property Finance to lend throughout the project duration. A funding line was agreed to include an initial draw down and an ongoing cashflow facility.

Robert Sterling Surveyors provides a range of professional survey services to commercial and residential finance providers nationwide. It also works closely with private clients (including developers), landlords, tenants and owner/occupiers of commercial, semi commercial and residential investment properties.

It has a particularly strong working relationship with Amicus and its in-house QS, Cedric Houghton Brown, having supported a number of major development projects in London and the South East over the last 12 months.