Regal London secures £100m loan for St John’s Wood scheme

Regal London has secured a £100m loan from ICG-Longbow to support the construction of up to 112 flats in St John’s Wood, NW8. The senior debt will also support 170 social and affordable rental flats for Central and Cecil Housing Trust. The closing of the loan commitment in December 2019 will facilitate the demolition of the existing building and construction of the new buildings early this year, with completion expected in late 2022. Kevin Cooper, co-head of ICG-Longbow, said: “Our development strategy is now in its sixth year and is currently enabling more than £1.2bn of gross development value. We continue to look for further large opportunities into which we can deploy the dry powder we have in this space.” As at 30 September 2019, ICG-Longbow has more than £3.7bn of assets under management. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette