The scheme, which was completed in 2016, is part of the first phase of a residential development on Peabody’s St John’s Hill estate — a major regeneration project.
Monarch Square is a predominantly South African-backed consortium looking to invest and externalise funds into the UK property market, alongside Shandon Property Group, a London-based, high-end property development, management and advisory business.
Shandon Property Group has conducted developments of more than £100m in project value within the London residential market.
The consortium purchased just under 30% of the block, consisting of one-, two-, three- and four-bedroom homes.
The properties are fully let and have garden areas, underground parking, and a concierge.
- Development lenders that have 'sailed too close to the wind' will not survive
- Investec lends £11m to fund development of nine industrial units in Cheshire
- Investec funds £35m loan for residential scheme
Matthew Robinson, at Investec Structured Property Finance, commented: “Despite the challenging economic backdrop caused by the Covid-19 pandemic, we are continuing to support established domestic and international clients who recognise the strong fundamentals of the UK real estate market and are looking to take advantage of attractive opportunities across a range of asset classes.
“This was an opportunity to fund a bulk residential purchase in a prime London residential neighbourhood.
“It’s one of the first transactions underwritten by our dedicated private client team within structured property finance, recently formed to offer bespoke funding, beyond traditional senior debt, to property professionals, private and family property companies and offices.”