Leumi UK lends £10.4m to Sterlet to refinance attractive London portfolio
Posted: 04 Feb 2026 | Share
Real estate lender Leumi UK has completed a £10.4m investment loan to Sterlet, an experienced property developer and investor, to refinance three assets located across Fitzrovia, Elephant & Castle and Acton, in London.
The largest asset within the portfolio is 33 Manor Place, a newly refurbished Grade II listed complex comprising the Manor Place, Wash House, and Bath House buildings, and is located close to the Kennington and Elephant & Castle tube stations. The asset totals 22,461 sq ft in total and is fully let to Palace Skateboards, which has invested significant capital into the fit-out of the buildings. The site, formerly a Victorian swimming baths complex, has been transformed into a unique creative and events destination as part of a commercial collaboration with Nike.
The second asset, 17–19 Foley Street, is a prime corner office building in Fitzrovia, and offers 9,312 sq ft of quality office space over four floors. The building is currently let to multiple tenants, and benefits from planning consent to add an additional floor and to undertake a comprehensive refurbishment programme.
The final asset, 179–181 The Vale, is a specialist 3,086 sq ft commercial unit let to a telecommunications provider and is located near Acton Central station. The property serves as a Switch Centre for the whole of the Acton area.
Sterlet were advised by Brotherton, who provided valuable support to both parties throughout the transaction.
Sterlet commented: “Leumi UK took a pragmatic and collaborative approach throughout the process, working constructively with us to deliver a tailored financing solution that aligned with our objectives. We look forward to working together as we implement our business plans across the portfolio.”
Marcus Booth, Associate Director at Leumi UK added: “It has been a pleasure to work with Sterlet which has an excellent track record of acquiring and developing differentiated properties with strong fundamentals. This transaction demonstrates our commitment to working closely with our partners, and to delivering tailored, highly flexible financing structures that meet our client’s individual goals.”