WR Capital

Bespoke Finance Solutions

What We Do

WR Capital is an independent boutique real estate finance business which structures, arranges and delivers innovative finance solutions for real estate investors and developers.

With over 20 years' experience in the sector we have strong relationships with all the competitive finance sources across the capital structure. We act on behalf of high net worth individuals, property companies and funds based within the UK and overseas. Our bespoke finance solutions cover all real estate asset classes and finance requirements.

WR Capital manages the entire process of arranging debt, from sourcing the most competitive and deliverable finance terms through to completion, with a focus on long-lasting client relationships.

Meet The Team

Meet the Team

Westley Richards

Founder and Managing Director

Before establishing WR Capital in 2019, Westley spent 10 years with a boutique real estate structured finance business, structuring senior debt and mezzanine finance for pan-European property investment and development projects.

Prior to this, Westley spent 6 years at a leading wealth management business as Head of Real Estate Finance, responsible for negotiating and structuring finance across UK and European activity, arranging over £800m of finance across a wide variety of transactions. Westley also has 6 years’ experience in real estate banking at RBS, Credit Suisse and HSH Nordbank, working across lending and credit analysis.

Westley holds an Honours degree in Business Studies from Leeds University.

Theo McCusker

Partner

Prior to joining WR Capital in 2020, Theo worked in the debt advisory team of a London-based boutique structured finance business, structuring and arranging investment and development funding for UK property investors and developers. Theo coordinated the completion of many complex loan facilities secured against a range of commercial and residential assets, including office, retail, logistics, PBSA, PRS and co-living.

Theo began his real estate career at Avison Young in 2014 within the Planning, Development and Regeneration team, gaining experience in Commercial Valuation, Development Viability and Site Assembly.

Theo graduated from Sidney Sussex College, Cambridge with a BA in Law in 2012 and later obtained a Postgraduate Diploma in Real Estate from London South Bank University.

Dylan Richards

Analyst

Before joining WR Capital in 2025, Dylan worked at one of the UK’s leading property finance brokerages, where he was the youngest adviser within the business. Dylan specialised in structuring and arranging finance across a range of commercial and residential asset classes, including offices, student accommodation, hotels and retail.

Dylan assisted property investors and developers in securing complex funding solutions aligned to their investment and development strategies, developing a strong understanding of lender relationships and deal execution.

Dylan received his CeMAP qualification from the London Institute of Banking and Finance in 2024, further strengthening his knowledge and ability to deliver informed and effective funding solutions for clients.

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Case Studies

London

Mixed-Use Commercial
Bridge Loan
£8m

Mixed-use commercial asset comprising a ground floor restaurant unit with c. 16,000 sq. ft. of office accommodation situated above. Half the accommodation was let, the other half was in the final stages of refurbishment. Client required a short-term loan facility to refinance an existing loan, and bridge the time required to complete the outstanding refurbishment works, let the vacant accommodation, and refinance onto a term loan facility.

WR Capital arranged an £8m bridging loan, equating to c. 65% loan-to-value, on a 9-month loan term, with a leading UK debt fund.

UK Portfolio

Office, Retail, Industrial
5-Year Term Loan
£50m

Mixed-use office, retail and industrial portfolio comprising 10 assets situated throughout the UK, including a number of high street retail assets with short unexpired lease terms, large single asset single tenant office HQ buildings and a data centre. The portfolio was owned by an overseas family office and held in a complex offshore ownership structure.

WR Capital arranged a competitively priced, £50m investment facility, on a 5-year loan term, with an overseas bank.

Buckinghamshire

Residential Development
Development Loan
£19m

Collection of 1990s office buildings, comprising 73,000 sq. ft. of accommodation spread across 9 office blocks, arranged in a ‘U’ formation around a central courtyard area comprising 144 car parking spaces. Planning consent had been granted to convert the property into 163 apartments. Property was purchased by an overseas family office part way through construction because the previous developer had failed to complete the scheme.

WR Capital arranged a 24-month, £19m development facility to fund the redevelopment works. The loan was provided by an overseas bank.

Cumbria

Residential Portfolio
5-Year Term Loan
£9m

Residential portfolio comprising 120 terrace houses located across County Cumbria. Each property had been acquired, refurbished, and let to a local housing association that provides accommodation to vulnerable adults in need of shelter.

WR Capital arranged several loan facilities during the lifecycle of this project, including both senior and junior debt. Bridging loans were used to acquire each property, a revolving credit facility was provided to fund the refurbishment works, and a 5-year term loan facility was put in place to refinance the existing debt once the properties were refurbished and let.

Due to the refurbishment work being completed in stages, the loan had to be drawn down in tranches as each batch of properties completed. WR Capital arranged a competitively priced 5-year term loan, at 75% loan-to-value, to meet the client’s requirements. Junior loans provided by WR Capital’s in-house funding line.

Guildford, Surrey

Mixed-Use Commercial
Bridge Loan
£4.5m

Mixed-use commercial asset comprising ground floor retail accommodation with c. 15,000 sq. ft. of office accommodation situated above. Part of the property was let and income producing, part of the property was vacant. Client required a short-term loan facility to acquire the property within a short time frame. Once the property had been acquired, the client would let the vacant floors, stabilise the income, and refinance onto a term loan facility.

WR Capital arranged a £4.5M acquisition facility on an 18-month loan term. The loan facility comprised both a senior and junior loan tranche, equating to a combined loan-to-value of 70%. Junior loan tranche was provided by WR Capital’s own in-house funding line.

Maidenhead & Aylesbury

Residential
Developer Exit Loan
£11m

The property comprised 100+ recently developed residential apartments across three separate schemes located in Maidenhead & Aylesbury. Two of the schemes were ground up new build developments, the third as an office to residential conversion. The client sought to sell half of the units and retain half into their investment portfolio.

WR Capital arranged an 18-month developer exit facility that enabled the client to refinance its development loan, sell the units being marketed for sale and let the units they sought to retain. Once let, the rental units could be refinanced onto a longer-term investment facility, which WR Capital subsequently arranged on behalf of the client.

Central London

Mixed-Use
10-Year Term Loan
£6.5m

Mixed use property comprising a ground floor restaurant unit with 19 studio apartments situated above. The building was subject to a use-class restriction which prohibited the apartments from being let on the same AST for a more than 90 consecutive days. The restaurant tenant was holding over.

The client was under offer to purchase the property and required a term loan facility to part fund the acquisition. WR Capital arranged a competitively priced £6.5M loan facility, at 75% loan-to-value, for a 10-year term. The loan was provided by a leading challenger bank.

Leeds

PBSA
Development Loan
£40m

Development site with planning permission to demolish existing light industrial building and construct a 6-8 storey student accommodation scheme comprising 305 studio rooms with ensuite bathrooms. The scheme was located adjacent to other PBSA developments in Leeds city centre. The completed scheme would be operated by a reputable student accommodation provider via a management agreement.

WR Capital arranged a competitively priced £40m development facility, equating to 67.5% loan to GDV, and over 80% loan to cost. The loan was provided by a leading UK debt fund.

Central London

Hotel & Retail
5-Year Term Loan
£21m

Newly developed scheme comprising a 37 key hotel, a restaurant, and two retail units, located in Shoreditch, East-London. Following practical completion and stabilisation of the hotel income, the client sought to refinance their existing debt with a cheaper, longer term, investment facility. Hotel was operating under the Soho House brand.

WR Capital arranged a competitively priced, £21m, 5-year term loan, with a leading high street lender.