The funding is being used to create Chanray, an 18,700 sq ft seven-bedroom property with an underground car garage, indoor pool, gym, cinema, club room and bar.

Investec has described this as a “luxury” development, with developer Applegate Homes overseeing the project.

Applegate Homes specialises in mansions in Surrey and Berkshire, where properties are typically priced between £10m and £40m and can be up to 35,000 sq ft in size.

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“Despite the turbulence caused by the Budget and shifting post-pandemic home ownership patterns, London and the surrounding area have retained their status as the top global destination for UHNWI looking to grow their residential portfolio, attracted by a world-class education system, legal framework, cultural offering and time zone advantages,” commented Ian Burdett of Investec.
 
“Applegate Homes’ impressive track record in this space aligns with our own through the property cycle experience in what is ultimately a long-term investment play. We look forward to growing the relationship while also introducing them to the wider Investec Bank.”

Lee Simon, founder and managing director at Applegate Homes, added: “We are looking forward to working with Investec who are our new investment partners.

“They are an extremely professional and experienced operator in the high-end residential property market which is one of the main reasons we have chosen them as our new partner.”