estatesgazette.co.uk

Atelier has provided a £12.4m development loan, structured at 66% LTV over an 18-month term, to Lotus Living for 60 homes in Streatham.

Following the recent £8.7m funding announcement of a residential development in Lewisham, the lender has agreed its second loan completion in London in as many weeks.

Real estate experts have urged the government’s new housing secretary, Steve Reed, to prove his ‘big beast’ credentials as he takes the reins from Angela Rayner, who resigned over a stamp duty scandal. Reed, MP for Streatham and Croydon North, and a former leader of Lambeth Council, moved from his role as environment secretary, which he has held for the past 14 months.

Real estate leaders welcomed Reed’s built environment experience, including his co-chairing of the Vauxhall Nine Elms redevelopment while at Lambeth.

Steve Reed has been appointed housing secretary following Angela Rayner’s resignation last week.

Reed, MP for Streatham and Croydon North, moves into the brief from his role as environment secretary, which he has held for the past 14 months. A former leader of Lambeth Council, he now becomes the 17th minister to take on the housing role in little over a decade.