North Wind Capital refinances Mayfair gem with ABC International Bank

North Wind Capital (“NWC”), the UK-based asset manager with a European presence, has successfully refinanced 41 Upper Grosvenor Street with a £25 million bridge loan provided by ABC International Bank PLC (“Bank ABC”).

The 12-month facility refinances existing debt and supports the next stage of the luxury residential business plan at this landmark Mayfair asset, adjacent to Grosvenor Square. The new financing reflects a sub-60% loan-to-value ratio and is based on an upwardly revised valuation following planning consent approval.

The transaction reinforces the stabilisation of the asset, providing institutional backing for North Wind Capital’s clearly defined refurbishment strategy.

Christian Mathews, Investment Director at NWC, commented: “The refinancing with Bank ABC adds further institutional backing for our refurbishment programme at 41 Upper Grosvenor Street. This facility supports the ongoing transformation of a landmark Mayfair building and reflects our confidence in both the high-end London residential market and our long-term strategy.”

Richard French, Senior Relationship Manager at Bank ABC, added: “We are pleased to have refinanced 41 Upper Grosvenor Street for North Wind Capital, enabling the next stage of the project’s regeneration. We look forward to the opportunity to partnering with the team on this property and others in their pipeline in the near future.”

The asset will be refurbished in partnership with REDD Real Estate, the London-focused development manager.