Ingenious Real Estate, the property investment division of alternative investment manager, Ingenious, has completed its two largest deals to date, cementing the business as a major alternative lender, offering bespoke and flexible financing for high quality and diverse schemes in the UK real estate market.
Ingenious Real Estate has provided a €23.8m (£21m) loan to fund the development of residential property at Villiers Point, Kingston and a further €21.5m (£19m) to construct office space in London’s Southwark district. With these two deals, Ingenious has now deployed over €283m (£250m) in UK residential and commercial loan facilities since its inception in 2014.
Commenting on the developments, Tom Brown, Head of Ingenious Real Estate, said: “The size of these deals represents a significant milestone for our team as we continue to realise our growth ambitions in the UK property market. The location and quality of the projects is outstanding and we are confident that they will contribute to our track record of successfully executing large-scale investment projects.”
Villiers Point, Kingston
Ingenious Real Estate has provided a loan of €23.8m (£21m) to Ensco Homes Limited to assist with the development of 50 properties, including a ground floor pre-let commercial building, 10 affordable housing properties and 39 private units.
Located a short walk from Kingston Town Centre, the project will significantly improve the area’s local amenities and bring much needed diverse housing to Kingston. The development consists of a mixture of one and two-bed flats/maisonettes, and three and four-bed houses. The development is also a 10-minute walk to Berrylands station, which offers direct links to London Waterloo in 30 minutes.
Tom Spanner, from Ensco Homes Ltd comments: "We are delighted to have forged a new relationship with Ingenious. Villiers Point continues Ensco’s focus on quality housing in desirable areas and we look forward to working with Ingenious on this exciting project.”
The deal was introduced by broker John Philips of Kingswood Associates.
Southwark
The team has also provided a loan of €21.5m (£19m) to construct 39 flats and 24,000 ft² of office space in London’s highly sought-after Southwark district. The scheme includes a large amount of initially unlet commercial space which demonstrates Ingenious’ ability to provide bespoke and flexible financing for high quality and diverse schemes in the UK.
