Regal London and KKR buy Clapham site for £50m scheme
Regal London has bought a site in Clapham in its first purchase with joint venture partner KKR for a £50m development.
The world’s largest private equity firm announced its tie-up with Regal in 2017, saying it would be targeting residential investments around London.
The development at 340a Clapham Road, SW9, will have a gross area of 94,740 sq ft, with 18,250 sq ft of business and retail space alongside 62 apartments over nine floors.
Regal London has bought a site in Clapham in its first purchase with joint venture partner KKR for a £50m development.
The world’s largest private equity firm announced its tie-up with Regal in 2017, saying it would be targeting residential investments around London.
The development at 340a Clapham Road, SW9, will have a gross area of 94,740 sq ft, with 18,250 sq ft of business and retail space alongside 62 apartments over nine floors.
KKR’s head of European real estate, Guillaume Cassou, said: “We are excited about our first transaction with Regal London, which comes at a time when London continues to require attractive and affordable housing, and builds on our strong track record of working with leading developers in markets around Europe.”
Planning consent from Lambeth Council was granted in June 2017 with work set to begin in H1 2019 and completion expected in late 2021. Twelve flats will be shared ownership, equating to 19% affordable housing.
Regal London chief executive Simon De Friend said: “340a Clapham Road has the necessary infrastructure to support a thriving community.
“With the character and amenities of both Clapham High Street and Stockwell just a stone’s throw away, it is set to be a sought-after proposition for first time buyers and young professionals alike.”
Shaw Corporation acted on behalf of the landowner, David Pearl’s Totsbridge.
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