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UK: City & Docklands and Housing Growth Partnership (HGP) have secured a £41.365 million loan from Investec Bank to refinance North Kensington Gate, a build-to-rent (BTR) asset in Old Oak Common, west London.
“HGP is pleased to continue supporting the next phase of North Kensington Gate, a scheme that plays a meaningful role in expanding the high quality rental housing offering in West London,” said Tasos Ikonomou, investment director of London and South East at HGP. “With major transport and regeneration investment underway at Old Oak Common, this project is well‑placed to deliver lasting benefits for local residents and the wider community.”
Ian Burdett, originator at Investec Real Estate, added: “This transaction demonstrates Investec’s ability to structure flexible capital around our client’s business plans and to support experienced sponsors as they position assets for long-term growth in locations with strong underlying fundamentals.”
TRST, Howard Kennedy, Addleshaw Goddard and Chatham advised City & Docklands and HGP. Shepherd and Wedderburn advised Investec.
North Kensington Gate is an operating asset offering 150 one-, two- and three-bedroom apartments.
Highlights:
- City & Docklands and HGP secured a £41.365 million loan from Investec to refinance North Kensington Gate in west London
- The project expands institutional-grade build-to-rent supply in London
- Legal and financial advisory teams included Addleshaw Goddard, Howard Kennedy, Chatham Financial, and others
