London: 8 January 2020 – Market, a new workspace in the heart of South-east London, is set to reach its final stages following a two-year commercial development loan converting to term debt. The financing post purchase is from Cynergy Bank.
The substantial Edwardian property, in the heart of Peckham’s main shopping area, was taken on by Frame Property. The architects behind it set up Market, an operating business that evolved plans to develop:
- Several commercial units to let to business owners; including a live music venue; restaurant, bar with roof terrace and a number of small retailers;
- Four floors of workspace for small businesses, including studios, fixed desks and hot desks, let on varied basis from short to medium term.
The deal was introduced to Cynergy Bank by Bespoke Business Finance LLP.
Nick Mansour, Co-Founder of Market commented: “The whole process of refinancing went smoothly, and helps us to keep evolving our concept, working with small businesses in and around southeast London.”
Greg Jones, Managing Director Cynergy Bank Property Finance commented: “Market’s plans for 133a Rye Lane are nearing completion. They have taken a substantial property and repurposed it as a hub for businesses in southeast London. At Cynergy Bank we pride ourselves on working with our clients to understand their business needs and aspirations. With our local, seasoned property experts, we quickly learn our client’s needs, we understand the market and can deliver certainty at speed.”