Silbury has provided Avanton, the London property developer, with a £68 million stretch facility. It will fund the redevelopment of the former Carpetright warehouse into 262 mixed tenure flats, including 92 much needed affordable units, across two towers, at Avanton’s landmark regeneration project on the Old Kent Road, known as The Ruby.

Offering residents panoramic views over the London cityscape, construction of the sustainable scheme will commence in September, with the first homes ready for residents in H2 2024 and the remainder in the early part of 2025. Alongside c. 23,000 sq ft of commercial space, residents will benefit from two adjoining squares and a community park as well as the areas excellent public transport connectivity, with both Bank and Oxford Circus tube stations less than 30 minutes away.