Prime central London developer Northbeach this month launches residential development management, investment and advisory business, Northbeach Capital Partners. The new company will build on the track record of its award-winning parent, to provide bespoke development management solutions tailored to meet the requirements of each client.
Northbeach Capital Partners will work with both institutional and private investors who require expert residential development sector knowledge, contacts and industry expertise to create their own prime central London residential portfolio. By acting as development partner and co-investing in joint ventures where possible, the company aims to deliver the best in residential property development and sound financial returns for its partners.
Adam Blaskey, Managing Director of Northbeach, comments: "A series of meetings with leading UK and international property advisors, banks, funds, family offices and other potential partners, has demonstrated that there is a clear demand for an experienced, branded development partner who can fulfil the needs of those looking to invest in prime Central London residential developments but who themselves may not have the necessary background knowledge or connections to realize a successful project.
"We are launching Northbeach Capital Partners to be at the forefront of a major change in the prime residential property market, which will not only see an increased focus on prime residential property as an asset class, but also more and more institutions, specialist funds and High Net Worth Individuals replacing banks as the traditional sources of development funding, in turn requiring experienced development partners with a proven track record."
Northbeach has hit the ground running by announcing its first project to be carried out under the new Northbeach Capital Partners model, having been appointed as development partner for the redevelopment of a major site in Knightsbridge, London SW3. This involves the refurbishment of a Grade II listed police station, and the demolition and re-build of a new block to create a prime 35,000 ft² residential development for which a planning application is due to be submitted later in the year.
Source: LUCHFORD APM