Developer secures £15.3m investment for multi-million pound homes in Wimbledon

Property developer Coronado has secured multi-million pound funding for a scheme in Wimbledon.

The company will use the £15.3m loan from challenger bank OakNorth to support its Montem Square project – a residential development of seven houses in the centre of Wimbledon Village.

Arranged as a parkside enclave looking down on the city, the houses will feature five bedrooms set across three floors.

Coronado is selling the homes at an average price of £4.4m, with one already sold.

Bruce McGlew, managing director of Coronado, said: “We are proud of our development at Montem Square.

“The highest quality finishes influence all aspects of these newly built architecturally designed residences, exuding luxury throughout.”

He added: “As contemporary spacious homes each with a good-sized garden, the houses offer the opportunity for families to settle in this popular residential enclave, all within easy reach of the vibrant, dynamic hub of Wimbledon Village.”

Hemesh Patel, property dinance director for OakNorth, said of the transaction: “The team at Coronado have decades of experience in overseeing property development projects – from sourcing, acquiring, and planning, all the way through to development, marketing, and completion.

“They have successfully completed several large-scale residential projects in affluent parts of London so we look forward to working with them on future projects.”

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