Planning for the four-storey 23,639 square foot Denmark Hill scheme was granted in 2016.
Atelier has agreed to fund a £14m development of 24 energy-efficient apartments in Denmark Hill, South East London.
The former civic building will be transformed into a mixture of one, two and three-bedroom apartments, and will incorporate a roof garden.
Planning for the four-storey 23,639 square foot Denmark Hill scheme was granted in 2016.
Developer and owner The Edition Group expects construction to take 18 months.
The deal was brokered by Dan O’Neil, director of real estate debt advisory at SPF Private Clients.
The site is well served by public transport, with mainline train stations at Denmark Hill, Herne Hill and North Dulwich. Denmark Hill is also connected to the London Overground Network.
Martin Gilsenan, director of origination at Atelier, said: “The Denmark Hill scheme is firmly in keeping with Atelier’s mission to power urban regeneration through sustainable, affordably priced housing.
“While the pandemic saw many families look to the countryside for greater space, London is now roaring back into life as offices reopen and businesses start to trade as they did before.
"In the coming months and years, we expect the resurgence of the capital to become a magnet for home-buyers once more.
“Denmark Hill is exactly the sort of project we like to fund - it combines a strong business case with a strong and lasting contribution to the local area.”
John Smart, director of The Edition Group, added: “Atelier’s record of supporting sustainable developments and structuring bespoke lending solutions made them the perfect fit for Denmark Hill.
"This is a carefully considered scheme which will appeal to design focused Londoners, and we look forward to beginning work in the very near future.”
