Investec provides £11 million loan for Southwest London mixed-use development
Investec Real Estate (“Investec”) announces that it has provided Style & Space, the London focused residential property developer, with a £10.85 million facility, to fund the development of a mixed use residential and commercial scheme, in Earlsfield, Southwest London.
The development, due to complete in December 2022, will comprise 17 high quality residential apartments for sale, a mix of one-two-and three beds, all of which will benefit from a private external terrace and/or balcony.
A 13,400 sq ft retail unit, which has been pre-let to Marks and Spencer, and 17,500ft of light industrial, distribution and office space suitable for a range of occupiers will complete the scheme.
The development is well located and only a 2 minutes’ walk from Earlsfield overground station, which connects to London Waterloo in 12 minutes.
The neighbourhood is one of London’s most desirable for young professionals and young families, attracted by the abundance of green space and increasingly diverse mix of local retailers, restaurants and bars.
Ian Burdett / Stuart Scott, Investec Real Estate, commented:
“This is a very well located mixed use development, which furthers our loan book exposure to London and those sectors – residential for sale, light industrial and convenience retail – that have outperformed over the past two years.
Establishing new partnerships with fast growing, dynamic borrowers is central to our strategy, and we look forward to working with Style & Space on the delivery of both this and hopefully future schemes.”
Rob Conroy and Thomas Crabtree, at Style & Space, added:
“ We’re very excited to finally be delivering this much needed space in the heart of Earlsfield and look forward to the final product of high end commercial space complimented with the long awaited M&S Food store and fabulous residential units making a positive contribution to Earlsfield”.