The redevelopment of a disused garage site in Lee has moved a step closer after specialist lender Atelier completed a £5 million loan to fund acquisition, demolition and a ground‑up build programme for nine new homes in the London Borough of Lewisham.
What the scheme will deliver
The development will provide a terrace of eight three‑bed houses and one two‑bed house on previously underutilised brownfield land. The loan is structured at 70% loan‑to‑value and set over an 18‑month term, aimed at enabling the borrower to progress the scheme through demolition and construction phases.
| Item | Detail |
|---|---|
| Number of homes | 9 (eight three‑bed, one two‑bed) |
| Finance provided | £5m loan at 70% LTV |
| Term | 18 months |
| Site type | Former garage brownfield site |
Local connections and amenities
The scheme is described as family housing and will include car and cycle parking together with landscaped amenity space. The site benefits from direct rail links to central London, including London Bridge and Charing Cross, which the lender highlights as a selling point for future occupants.
"This scheme demonstrates the value that can be unlocked by bringing brownfield sites back into productive use," said Raj Hothi, lending director at Atelier. "The development will replace redundant garages with nine high‑quality family homes, creating a lasting positive impact for the local community."
Why this matters for Lewisham residents
Reusing brownfield land for housing is a frequent aim of local planning policy, particularly in London boroughs where pressure on land is acute. While the nine homes will not solve wider housing shortages, the project illustrates smaller‑scale infill developments that cumulatively contribute to supply. The inclusion of three‑bed family houses is notable in a borough where family accommodation is in demand.
- Provides nine new dwellings on a previously underused site in Lee.
- Represents a private finance route to unlock small‑scale housing development.
- Includes parking, cycle provision and amenity space intended for family occupation.
Atelier said it was supporting an "experienced borrower with a strong track record of delivering residential developments" and that its funding approach focuses on structuring loans to give borrowers certainty to proceed. The lender's comments signal confidence the scheme will progress from demolition to completion within the financing term.
Next steps for local residents will depend on the planning status of the site, construction timetables and any engagement the developer undertakes with the local community. The deal demonstrates how development finance is being used to convert small brownfield plots into family housing within Lewisham.
