Mark Stephen

Reditum enters Irish market with co-living deal

Reditum Capital has completed its first deal in Ireland with a JV finance partnership with The Collective.

The London-based boutique financier has provided a total of €6m (approximately £5.3m) for the co-living developer’s new scheme in Fumbally Lane, Dublin.

The site benefits from the significant regeneration currently being undertaken in the area and is set to open by the end of 2021.

This is Reditum’s second JV with The Collective, following the partnership for the latter’s Trewint Street scheme in Earlsfield, south-west London, which is pending planning approval.

Mark Stephen, co-founder at Reditum Capital (pictured above), said: “As a financier, it’s important we always explore deals that challenge how we think about property.

“It’s projects like these that move businesses like ours forward. 

“There is obviously a growing market for this type of asset class, and we look forward to exploring this further in Ireland and other territories.” 

James Penfold, global planning and communications director at The Collective, added: “We are honoured to have acquired our first site in Dublin in the Fumbally neighbourhood and look forward to working with the people of the Liberties area.

“We will be meeting and listening to local communities, businesses and planners in the coming weeks to co-create a world-class cultural destination we can all be proud of.”

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