UK: Developer Related Argent has agreed a £243 million loan with ICG Real Estate for the delivery of a 484-unit BTR scheme in Tottenham Hale, London.
The project will be the second and final phase of the 3.5-acre Heart of Hale regeneration project which is owned, developed and managed by Related Argent.
The mixed-use development comprises 1,032 new homes including market sale, on-site affordable and BTR housing across seven buildings. The residential accommodation is being delivered alongside new public spaces and squares, leisure and retail facilities with 417 homes across three buildings having already been delivered.
Phase two comprises 1 Ferry Island, a 12-storey residential tower with 108 homes, and 2 Ferry Island, featuring 376 homes across two towers rising to 38 storeys, both designed by architectural practice Allford Hall Monaghan Morris (AHMN). Midgard is the contractor. Final completion is expected in late 2026.
The BTR buildings will feature amenities including the Island Club, which offers a gym, residents’ lounge and cinema as well as studios, coworking space, meeting rooms, and a kitchen garden. Residents will also benefit from a significant amount of outside living space provided by balconies and three communal roof terraces/gardens.
The scheme, in partnership with Haringey Council, will also feature a major new pedestrianised civic space at the heart of the Tottenham Hale masterplan.
Tom Goodall, managing director of Related Argent, said: “The last year has seen successful delivery across our residential portfolio with 635 homes completed including the imminent opening of Author King’s Cross, our first BtR offer at King’s Cross, and over 1,200 new homes currently under construction. The capitalisation and start of major construction at 1 and 2 Ferry Island are important milestones to complete the Heart of Hale development, creating a new community and a destination for Tottenham Hale. Heart of Hale is evolving into what we believe is one of the most vibrant and best-connected places to live in North London.”
Jai Patel, managing director of ICG Real Estate, added: “Living remains one of ICG Real Estate’s long-held high conviction sectors for both our debt and equity strategies. This substantial development loan reflects our ambitions in this sector and enables the delivery of 484 much-needed new homes in the capital, alongside new public realm, leisure and retail amenities for the local community. This project forms part of a wider regeneration project in this part of North London and underlines our commitment to funding high-quality accommodation within visionary mixed-use developments. It also allows us to extend our relationship with Related Argent, demonstrating our appetite to provide both large and flexible financing solutions to best-in-class sponsors across the UK and Europe.”
