Investec furthers exposure to London residential sector with £13.5 million Clapham South development loan
Investec Real Estate has provided Landhold Developments, the experienced London and Home Counties-focused commercial and residential investor and developer, with a £13.5 million senior facility, to fund the construction of 36 high quality homes in a prime Zone 3 London location.
Known as Clapham Quarter, Landhold is transforming what is [currently a car park] into 36 homes for sale, comprising a mix of one, two, and three bed apartments. The highly sustainable scheme, due to complete in Q4 2023, will feature one, two and three bedroom apartments offering the latest in sustainability technology in a quiet, safe and vibrant location. Occupying a highly sought-after Zone 3 location, minutes walk from Clapham Common and Clapham South tube station, which connects to Victoria in under 10 minutes, residents will also benefit from the local area’s plentiful shops, bars and restaurants.
Ian Burdett, Investec Real Estate, commented:
“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. 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.”
Garry Simpson, Managing Director at Landhold, added:
“This is the second scheme we have had the pleasure of working with Investec on, who bring deep expertise of the London residential sector. Whilst 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.”