The Challenge
Founded in 2005 by Ali Reza Ravanshad, Dandi is a multi-award-winning property developer which focuses on creating small and unique spaces for residents which provides them their own individual space whilst feeling part of a community. With increased flexible working resulting from COVID, it is expected that demand for co-living will increase as more people work from home for a portion or all their week – Dandi were therefore in need of finance to capitalise on this trend.
Opportunity & Outcomes
We were able to provide the Dandi Group with a £32.6M facility to develop Dandi Battersea, a major new co-living scheme in Battersea. Located on a quiet road surrounded by residential houses and apartments, Dandi Battersea benefits from being within walking distance to Clapham Junction and Wandsworth Town train stations, as well as the local amenities of the surrounding area. The site, which is almost 16,000 sq.ft., is currently sitting vacant, so the cash injection will help breathe new life into the surrounding area. Commenting on the transaction, Ali Reza Ravanshad, Chairman & Founder of Dandi, said: “This is the third time we’ve chosen OakNorth Bank as our funding partner and there’s a reason we keep returning to them – the team is collaborative, constructive, and commercial. There’s no broad-brush assumptions or computer-says-no decisions.”