The facility will fund the construction of 36 homes in a prime London location
Investec Real Estate has announced that it has provided commercial and residential developer Landhold Developments with a £13.5 million senior facility to fund the construction of 36 high quality homes in a prime Zone 3 London location.
The developer is transforming what is currently a car park into 36 homes for sale in the project known as Clapham Quarter.
The scheme, due to complete in Q4 2023, will feature technology-enabled one-, two-, and three-bedroom apartments in the highly sought-after Zone 3 location, minutes’ walk from Clapham Common and Clapham South tube station, which connects to Victoria in under 10 minutes. The area is also home to numerous shops, bars, and restaurants.
In June, Investec launched its inaugural private client research report which gathered the views of 110 private client property investors and developers. The report revealed London as the most appealing location for UK real estate investment, with 97% of respondents seeing the capital as very or slightly appealing, significantly ahead of other UK cities.
“The London residential for sale market has long been one of our high conviction strategies, with a reversal of the ‘race for space’ trend caused by the pandemic set to further underpin the market’s resilience,” Ian Burdett of Investec Real Estate commented.
“Clapham South, with its abundance of green space and excellent connectivity, is one of London’s most desirable neighbourhoods. Supporting our more entrepreneurial client base in what is an increasingly challenging backdrop remains a key focus for the bank, driven in part by a belief that they are the lifeblood of the UK construction sector and are essential in meeting the growing demand for housing.”
“This is the second scheme we have had the pleasure of working with Investec on, who bring deep expertise in the London residential sector,” said Garry Simpson, managing director at Landhold. “While the macroeconomic backdrop is not ideal, with over 35 years’ experience investing in and developing UK real estate, we are well placed to deliver on our pipeline.”
