HSBC refinances £200m London BTR schemes
Invesco Real Estate has secured a £200m loan with HSBC UK to support two stabilised residential build-to-rent schemes in east and west London.
HSBC UK’s loan will refinance the existing sites at Kew Bridge and Barking Wharf, delivered by EcoWorld London in 2021 and early 2022.
The four-block site at Kew Bridge comprises 487 homes with amenity spaces, a restaurant and coffee shop on the ground floor.
Invesco Real Estate has secured a £200m loan with HSBC UK to support two stabilised residential build-to-rent schemes in east and west London.
HSBC UK’s loan will refinance the existing sites at Kew Bridge and Barking Wharf, delivered by EcoWorld London in 2021 and early 2022.
The four-block site at Kew Bridge comprises 487 homes with amenity spaces, a restaurant and coffee shop on the ground floor.
The development forms part of a wider £600m regeneration of brownfield land, which facilitated the delivery of Brentford Football Club’s 17,250-seat stadium.
Barking Wharf’s two-block development consists of 595 build-to-rent flats and includes a concierge, gym and social and work lounges for residents.
John German, managing director, residential investment for Invesco Real Estate, said: “Following the original investment in 2019, the two investments have been successfully developed and leased. We selected HSBC UK, whose real estate team was the ideal choice to enable us to take these two investments forward.”
Darren Wilson, head of private rented sector at HSBC UK, added: “The evolution of the build-to-rent market, particularly in London, has been dramatic in recent years with no sign of any let-up in demand or investor interest. This is a significant loan for the sector and demonstrates our appetite to support this important route to delivering new housing in the UK.”
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Image from Invesco
