Pluto Finance Successfully Closes £60m Loan for Signia Living for their Sydney Road development

Pluto Finance, a leading provider of property finance, is pleased to announce the successful closing of a residential development loan to support a new housing development, Sydney Road, in Watford.

The client, Signia Living, is a property developer based in Harrow, North London with an extensive portfolio in and around North West London.

Pluto Finance have provided a £60 million residential development loan, for the development of 231 new build residential units and 120 parking spaces. The developer's intended strategy for this scheme is fluid, and Pluto's loan structuring allows the borrower to pursue numerous approaches for the scheme in the future.

Pluto Finance have worked with Signia on numerous occasions, ranging from small bridge loans starting from £8.0m, to this £60m transaction. This illustrates the full range of loan sizes that Pluto can facilitate and commitment to supporting borrowers at every stage of their growth, and underlines Pluto Finance's expertise and understanding of different approaches to lending, ensuring the borrower can align the bespoke financing with their plans.

Mario Ioannides, Partner at Pluto Finance, commented: “We are delighted to support our good friends at Signia Living with this development. At Pluto Finance, we are continually partnering with developers that contribute essential housing supply to the local market, and we firmly believe that this latest development will yield significant advantages for the community.”

Dhiraj Dabasia, Director of Jaysam Contractors and Head of Development at Signia Living commented: “Sydney Road, Watford is an important regeneration development in Watford and with the support of Pluto Finance, we are able to deliver over 200 new homes and continue our plans for delivering high quality development schemes across North and West London.

We have worked with Pluto Finance now on a number of developments due to their expertise and thorough understanding of the market, and this is something we look to continue with as the size of our development schemes continue to grow.”