UK: Investment manager Redevco, Swiss Finance & Property Group (SFP Group) and SFP UK have signed a JV to bring forward UK BTR developments.
The partners’ strategy will focus on repurposing existing underutilised commercial assets with the potential for residential-led mixed-use projects.
The JV will target UK regional hubs. Its first project is located in the Finneston region of Glasgow.
SFP group, which has a majority ownership in the JV, will be responsible for organising the capital raising. Redevco, as SFP’s local partner, will concentrate on sourcing opportunities, and on the asset and development management.
Patrick Brenninkmeijer, business development director at Redevco, said: “We are delighted to have found a like-minded partner and are enjoying the close collaboration with the SFP UK team to jointly help cities in the UK transform and ensure they are sustainable and liveable. We are ready to find suitable properties and repurpose them into residential-led mixed urban schemes, starting with the seed asset in Glasgow for which the first fund raising round has been successfully closed.”
The strategy of the JV is in line with Mission2040 – Redevco’s commitment to making its entire portfolio net zero carbon by 2040.
