Investec lends £16m for Belgravia residential renovation

Investec Real Estate has completed a £16.4m senior loan on a 31-month term for Fairway Capital to acquire and renovate a prime residence in central London.


The client’s development partner, Leconfield Property Group, is responsible for the refurbishment of the Belgravia property, which is set to be completed in 2023.

The finished project — expected to attract interest from both domestic and international buyers — will feature five en-suite bedrooms, staff accommodation, and additional facilities, including a swimming pool and garage parking for two cars.

This is Investec’s second deal with Fairway, having previously provided a £34.5m loan in October 2020 to fund its acquisition and redevelopment of nine prime central London luxury homes — Fairway Capital Property Fund’s first investment following an initial equity raise of £80m in July last year. 

The existing relationship enabled the lender to meet the client's funding deadline and execute the complex transaction — which involved a JV partner with an ownership structure across multiple jurisdictions — in approximately three weeks from credit approval.

Daniel Carlisle, real estate originator at Investec, said: “Despite an understandable dip, the prime central London market has again demonstrated its ongoing resilience, and we expect the recovery to gain pace as international travel resumes and government-imposed restrictions end. 

“Alongside New York, London remains the pre-eminent global city for HNW individuals, and this outstanding property will undoubtedly attract interest from buyers looking for a slice of one of its most prestigious areas. 

“We’re pleased to be supporting Fairway on another project in a market where we have a 25-year track record, having again demonstrated our expertise in executing complex transactions quickly and flexibly.”

George Brooksbank, at Fairway, added: “[This] will be a flagship asset within our portfolio with a GDV north of £30m.  

“We had to move quickly and Investec once again proved to be a reliable and efficient debt provider who outperformed to meet the tight deadline.”

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