Regal gets Pluto’s backing for City tower

Regal London has secured funding for a £95m residential tower in the City of London. The developer has partnered with 4C Hotel Group to deliver the Haydon, a residential tower of 87 flats in Aldgate. Pluto Finance has provided a £44.5m loan to fund the development, which is due to complete in 2024. Marc Eden, Regal’s investment director, said: “We are delighted to be partnering with 4c Hotels, who approached us to deliver a residential vision on their land. Pluto Finance have bought into the strength of the partnership and provided the required development finance for the project.” The Acme Architects-designed tower will be set within a secluded, landscaped courtyard, and residents will have access to a spa, cinema, gym and roof terrace with views across London. Al-karim Nathoo, chief executive at 4C Hotel Group said: “This is a further milestone of our wider redevelopment of the Minories estate.” Regal London has a pipeline of around 6,000 homes, including the recently acquired 100 and 100a Chalk Farm Road next to the Roundhouse. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image from Regal London