Enfield Development Finance: 1 Unit Residential Scheme at 24 Coniston Gardens London N9 8NB Enters the Pipeline
A C3 to C4 HMO conversion at 24 Coniston Gardens N9 is pending decision in Enfield, with an estimated GDV of £445,000 and clear funding routes.
A new residential application has landed on our Enfield tracking list this month. Application 26/02214/FUL at 24 Coniston Gardens, London N9 8NB is currently pending decision, according to the London Borough of Enfield planning register (Idox). The application was received on 28/05/2026, the same register shows, which puts it inside the borough's standard determination window as of mid July.
The scheme
The proposal is a change of use from Use Class C3, a dwelling house, to Use Class C4, a house in multiple occupation, with associated amenity, cycle and refuse storage, per the London Borough of Enfield planning register (Idox). The register records 1 unit proposed and classifies the application as residential use. Our desk estimates a gross development value of £445,000 for the completed asset, a Construction Capital estimate derived from the London Borough of Enfield planning register (Idox) entry and local comparable evidence.
Where it sits in the Enfield pipeline
Coniston Gardens sits in Lower Edmonton, one of the busier corners of the borough for small residential conversions. Single-unit C3 to C4 switches rarely make headlines, but they are a steady feature of the applications we monitor for our Enfield coverage, and they tell us where landlord demand for shared housing is concentrating. N9 has seen a run of similar filings over recent quarters, and this one fits the pattern: modest works, planning risk front-loaded, and value created through the change of use rather than through bricks.
The finance angle
A scheme of this shape typically needs two things. First, acquisition or refinance funding while the application is pending: bridging specialists will lend against the existing C3 value, with pricing that reflects the planning uncertainty. Second, a light refurbishment facility once consent is granted, covering the amenity, cycle and refuse storage works plus any internal reconfiguration needed to meet HMO licensing standards. Specialist commercial lenders and challenger banks are both active on completed HMO stock in Greater London, which matters because the exit here is almost certainly a hold: a refinance onto an HMO investment mortgage at the uplifted valuation, rather than a sale.
Against an estimated £445,000 GDV, the numbers are small enough that speed and simplicity beat fine-grained pricing. A sponsor paying an extra 0.25 per cent on a six-month bridge loses far less than one who waits eight weeks for credit committee.
Our read
Sponsors running similar C3 to C4 projects in Enfield should line up three items before consent arrives: an Article 4 check for the specific street, confirmation of the borough's HMO licensing requirements for the intended occupancy, and a decision-in-principle from a lender that values on a commercial HMO basis rather than bricks and mortar. We arrange facilities across bridging specialists, challenger banks and specialist commercial lenders for exactly this profile of scheme, and pending applications like 26/02214/FUL are the right moment to start that conversation, not the week after the decision notice is issued.
