OakNorth funds WMG Aldgate resi scheme

OakNorth has backed private investment office WMG with a £16.5m loan to develop a residential-led scheme in Aldgate, E1. The 17-storey development at 34-40 White Church Lane and 29-31 Commercial Road, in east London, comprises 39 apartments with ground floor commercial space which is being developed by CBG. It is located close to Aldgate East station and a short distance from the proposed new Crossrail station at Whitechapel. Updated plans to increase the affordable provision to 10 units and alter the apartment size mix, switching studios to one-bedroom flats, were approved this year, and WMG is awaiting the final sign-off