Ealing Development Finance: 2 Unit Residential Scheme at 16 Priory Gardens W5 1DX Enters the Pipeline
Application 262694FUL at 16 Priory Gardens, Ealing W5 1DX proposes two self-contained flats and sits pending decision, with an estimated GDV of £740,000.
A small residential conversion in W5 has joined the borough's live caseload, and it is the kind of scheme our desk funds most weeks. According to the London Borough of Ealing planning register (Idox), application 262694FUL at 16 Priory Gardens, Ealing W5 1DX is pending decision. The register records the proposal as conversion of existing dwelling into two self-contained flats with provision of cycle storage and bike storage (part retrospective and modified), with 2 unit(s) proposed and a use class of residential. The application was received on 08/07/2026, per the same register.
Two points stand out before any funding conversation begins. The first is the part retrospective and modified wording, again from the London Borough of Ealing planning register (Idox). Retrospective elements change how a lender reads the file, because works already carried out have to be reconciled with what is finally consented. The second is scale: at 2 unit(s) proposed, this is a permitted-development-sized job rather than a ground-up site, and that shapes both the product and the pricing.
On value, our own working figure is an estimated GDV of £740,000, a Construction Capital estimate drawn from the London Borough of Ealing planning register (Idox) entry rather than a published valuation. That number matters because it sets the exit maths. Two flats at that combined level sit comfortably inside the lending appetite of specialist commercial lenders and bridging specialists, and within reach of some challenger banks where the sponsor has a track record and the security is clean.
What the scheme is likely to need
Funding for a job of this shape usually splits into two stages. The first is the site or acquisition layer, often a bridge against the existing dwelling, sized on current value with a works facility drawn in stages. The second is the development exit: once the two flats are complete and separately titled, a cheaper facility replaces the build finance and buys the sponsor time to sell or to refinance onto term debt. Development exit is frequently the more valuable half of the deal on small conversions, because sales periods in west London rarely match the twelve month bridge that funded the works.
Sponsors working in this part of the borough will find more context on our Ealing page, including how we approach conversions of this size across W5 and the surrounding postcodes.
Our read
We would expect underwriters to focus on three things here: how the retrospective works are regularised in the final consent, whether the two flats can be separately titled and separately valued, and whether the estimated GDV of £740,000 holds against recent comparable sales rather than asking prices. Sponsors should have a schedule of works, a costed contingency, evidence of the existing title position, and a written exit plan ready before approaching any funder.
Applications received on 08/07/2026 will typically reach a decision inside the statutory determination period, so the sensible move is to have terms agreed in principle now rather than after consent lands. Our desk is happy to review the file at this stage.