Oversight and Risk Mitigation for Major London Residential Scheme

Acted as Facility Agent, Security Agent and Draw Monitor on a £137 million syndicated facility funding a £259 million residential development.

Sector: Commercial Real Estate

Location: United Kingdom

Services Provided:

• Loan Administration, Cash Management, Facility Agent and Security Trustee
• Structuring and Cashflow Modelling
• Audit / Validation of Financial Models
• KYC Services

The client needed to fund a £259 million residential development in Walthamstow, London, involving partial demolition of an existing shopping centre and construction of two towers up to 34 and 27 storeys. The scheme includes 538 residential units, retail and community spaces, making it a complex, high-value project requiring strict oversight and risk mitigation for lenders.

Mount Street was appointed as Facility Agent, Security Agent and Draw Monitor on a £137 million syndicated facility. We reviewed invoices and project monitor reports to ensure drawdown requests aligned with budgets, timelines and facility documentation. Our team liaised with borrowers and monitors to challenge discrepancies, flagged risk points for closer scrutiny and monitored compliance with facility conditions, insurance renewals and contractor appointments.

This proactive approach provided lenders with confidence and transparency throughout the construction phase. By mitigating risks and ensuring timely compliance, Mount Street enabled smooth fund releases and safeguarded the project’s financial integrity. On completion, we will continue as Facility Agent and Security Agent when the loan transitions to an investment facility.