The sale of Capital Gate, in Hainault, marks Medina’s first exit to a major housebuilder.

Medina acquired Capital Gate in 2024, using a £5.7m facility from GRE Finance, and developed 52 three and four-bedroom townhouses and 34 affordable apartments on the site.

It successfully secured planning in November 2024.

The tired 50,000 sq ft two storey office building sits on a three-acre plot and has been allocated for residential development in Redbridge’s adopted local plan.

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The plans for the site include outdoor landscaping with a range of communal areas including a dedicated new play street, gardens with picnic areas, play area and a boules court.

“We are pleased to have gone from acquisition to planning gain and disposal within a year,” said Nidal Al Khail, managing director at Medina Capital.

“Securing our first deal with a major housebuilder also reflects confidence in our ability and the quality of our work.

“Despite a challenging market for some, we remain actively committed to new land acquisitions with strong funding capabilities in place allowing us to move quickly.”

Andrew Cox and Ed De Jong at Savills acted for Medina Capital.

Paul Hinett at Steele Raymond provided legal services.