Investec

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.

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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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