Residential deals

Investec provided a £14.75m senior loan to Meadow Partners, the international real estate investor and asset manager. The 24- month facility will finance the site acquisition and support meadow through the planning process to convert six mixed-use office and retail buildings, situated in London’s growing Docklands business district, into a high quality residential scheme.

This latest facility follows a £32.8m loan by Investec to Meadow in 2016 to help fund the acquisition of land and the development of an 84,452 sq ft data centre, in the same Docklands area. The bespoke loan structure will allow Meadow to refinance incumbent debt and to progress with its business plan of achieving planning for a 319 unit residential scheme.

Investec Structured Property Finance provided Auriens a £55m senior debt facility over a 24 month period to fund the construction of 55 residential apartments which have been specifically designed to meet the needs of those later in life. The development, in the heart of London’s Chelsea, recognises the need for specialist housing solutions for an aging population.

The building will have fully integrated care and health facilities alongside a first-class restaurant, hydrotherapy pool, spa, gym, private members’ club, café, gardens, library, consulting rooms and cinema. Bespoke care will be provided through a partnership with London’s leading nursing and care provider, Draycott Nursing. Investec has supported Auriens throughout the process, as it recognises the need to invests in luxury platforms aimed at an older audience.

Investec Structured Property Finance partnered with Linden Homes in a 50:50 joint venture to develop two sites in Hammersmith and Wimbledon, London into two residential-led schemes. Development works for the Hammersmith project completed in July 2016. The scheme includes 55 residential units, ranging from studio apartments to 3 bedroom townhouses, and 2,300 sq. ft. of retail space.

The Wimbledon scheme comprises 58 residential units, ranging from single bedroom to 3 bedroom apartments, 6,600 sq. ft. of office space and 23 basement car parking spaces. The development completed in September 2016. Linden Homes is the house building division of Galliford Try plc and is the fifth largest residential developer in the UK, delivering about 3,000 houses and apartments each year. Investec partnered with and assisted Linden Homes by providing a flexible joint venture funding structure on these well-located opportunities.

Investec Structured Property Finance completed a £17m facility to fund Galliard Homes’ acquisition and development of the Cygnet Street Car Park in Shoreditch, London. The residential-led scheme will include 39 residential units, a basement gym and a ground floor commercial unit. The assumed value of the completed scheme is in excess of £30m. The scheme has been designed with the local environment in mind and it will regenerate one of the last underused plots in the area.

Galliard, founded in 1992, is a property development, hospitality and management group overseeing mixed-use, residential, hotel and commercial projects across London and southern England with a £1.1bn portfolio of more than 5,900 homes, hotels, retail premises and commercial properties. This deal, covered by Property Week and Estates Gazette, demonstrates Investec’s continued support of highly regarded, market-leading clients.