Co-living scheme Dandi Battersea is being backed by a £32.6m loan facility from OakNorth Bank.
The funds are being provided to Dandi Group for the development of a new six-storey resi scheme at Hazel Court on Haydon Way, near Wandsworth Town station.
Under the plan, Dandi will demolish an existing 16,000 sq ft vacant building on the site to build the new residence, featuring 159 co-living bedrooms.
Planning permission for the scheme was finally granted in September 2021 after two refusals by Wandsworth Council’s planning committee in 2017 and 2020.
Ali Reza Ravanshad, chairman and founder of Dandi, said: “Many professionals are now working from home for part or all of their week, but still want to feel like part of a community and make new connections as they would do in an office. This is one of the benefits that a co-living space such as Dandi Battersea provides.”
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