MERA completes £6.1m refinance of Chancery Lane serviced office

17 September 2026

MERA has completed a £6.1m equity release refinance secured against a fully let, c.10,000 sq ft serviced office near Chancery Lane, London, unlocking the funds the client needed to exchange on a new office acquisition. The facility refinanced existing debt held with Bank of London and The Middle East (BLME); the new acquisition, a refurbishment project bought from a large overseas investor, has a deferred completion of 9 months.

Structured as a 24-month facility at an LTV of 55%, with interest part-serviced and part-accrued monthly, the loan reflects MERA's appetite for income-producing, operationally proven assets, in this case a building let across sixteen individual office suites.

Associate Director Leo del Rosso led the transaction for MERA, working alongside mezzanine partner Martley Capital.

Rather than simply extending its existing facility with BLME, the client wanted a lender able to support the refurbishment of the new asset once it completes, and one it had worked with before. MERA has backed the client on previous transactions, and this deal continues that relationship as the client moves into its next acquisition.

Leo del Rosso, Associate Director at MERA, commented:

"This was about releasing the funds our client needed to move on to their next opportunity, without getting tied up in a straight refinance. Structuring it alongside Martley Capital gave them the flexibility to exchange on the new acquisition now, and the certainty of a lender who can support the refurbishment once it completes.

"We've backed this client before, and that history mattered here. They wanted a lender who understood the plan for the new asset, not just the numbers on this one, and that's exactly the kind of relationship we want to keep building with clients we've already worked with."

Tom Tunley, Director of Debt Capital Markets at Martley Capital, commented:

"We were pleased to support this transaction alongside MERA, structuring mezzanine finance that gave the client the certainty to move quickly on their next acquisition. It's exactly the kind of deal where a joined-up capital stack makes the difference, and we look forward to seeing the refurbishment project progress."