Feanor Capital Partners finances 41 Upper Grosvenor Street pre-development works with Banor Capital mezzanine loan

London, July 2024: Feanor Capital Partners, a UK-based real estate investor with a European presence, has secured a £10 million mezzanine loan from Banor Capital's Special Situations Fund II, the regulated, Italy-headquartered fund manager. The facility will finance pre-development works at 41 Upper Grosvenor Street, a prime property in the heart of Mayfair, adjacent to Grosvenor Square.

Feanor Capital Partners took vacant possession of 41 Upper Grosvenor Street for circa £35 million in March 2024. The 18-month facility is cross-collateralised with the Reeves Mews car park, which Feanor acquired in 2023. Proceeds will fund pre-development costs through the planning phase, including finalising design and layout ahead of redevelopment.

Feanor Capital Partners [submitted / intends to submit] a full planning application in [DATE], proposing the transformation of the former office building, previously leased to Schroders, into luxury residential apartments.

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Feanor has appointed REDD Real Estate, a luxury residential development manager, to execute the redevelopment. MSMR are the scheme architects and HBA Interiors are the interior designers, both recognised for their work in high-end residential.

The facility funds the next stage of the project, allowing the design and planning strategy to be refined ahead of redevelopment. Feanor thanked Banor Capital for its continued support across the firm's prime residential programme.

ENDS.