Distinguished Hampstead property acquires development funding

Established residential and commercial developer, Cowell Group, has received a £2.2million land and development facility from Principality Building Society to support one of its latest developments in Hampstead Garden Suburb, London.

An exceptional location

In one of London's most sought-after residential locations, the period property, an iconic Sir Edwin Lutyens-designed four-bedroom Grade II listed home, will be sensitively refurbished. The modernisation will transform the property into a high-specification family home.

The project combines an exceptional location with a highly experienced borrower.  Cowell Group has a proven track record of delivering similar schemes and has extensive knowledge of its target market. Demand for high-quality homes in this area remains strong, providing confidence in the development.

Building on a successful relationship

This is the second residential re-development that Principality Commercial has supported Cowell Group with in the last year. It follows the successful funding of Gloucester Place Mews in Marylebone, where the completed property sold at the first viewing.

This latest agreement reflects the strength of the relationship between both parties.

Nick Cowell, Founding Director of the Cowell Group, said

“We found Principality’s approach very dynamic. We’ve borrowed fairly significant amounts of money since 2018 for investment and development projects and what we like about them is that they are always contactable, we always deal with the same people and they work very hard at creating decent relationships with us.

From a transactional point of view they are very quick to deal with and once they have make a decision they stick to it. I would highly recommend Principality Building Society and we’ll continue to work with them for the foreseeable future.”

James Ford, Senior Portfolio Manager, Principality Building Society, said 

“This is not the first heritage property the Cowell Group has worked on. Their experience gives us confidence in their ability to successfully re-develop within the constraints of a listed building. Having already worked together on other projects, we have developed a strong working relationship with Cowell Group and understand both their market and their ability to deliver exceptional results.”