SevenCapital planning £1bn push into London resi market
SevenCapital is planning a £1bn expansion into the London residential market, with a trio of projects in the pipeline in Kensington, Islington and the Isle of Dogs that will comprise 1,000 homes.
The first scheme, 100 Kensington, is a £500m residential development providing 462 homes, which has planning consent. The other two projects are currently in the planning process, with Klein’s Wharf on the Isle of Dogs providing 375 homes and the £210m Archway Campus in Islington comprising 178 homes, 50% of which will be affordable.
Across the schemes and more in the planning pipeline, SevenCapital expect to add an increased concentration of mixed-use development and more than 10,000 homes to the company’s UK portfolio over the next five to seven years.
SevenCapital is planning a £1bn expansion into the London residential market, with a trio of projects in the pipeline in Kensington, Islington and the Isle of Dogs that will comprise 1,000 homes.
The first scheme, 100 Kensington, is a £500m residential development providing 462 homes, which has planning consent. The other two projects are currently in the planning process, with Klein’s Wharf on the Isle of Dogs providing 375 homes and the £210m Archway Campus in Islington comprising 178 homes, 50% of which will be affordable.
Across the schemes and more in the planning pipeline, SevenCapital expect to add an increased concentration of mixed-use development and more than 10,000 homes to the company’s UK portfolio over the next five to seven years.
It has partnered with Mark, a pan-European real estate investment manager, to deliver 100 Kensington. The scheme, located on a 4.2-acre site, will provide 276 for-sale apartments and 186 affordable homes with a 15,000 sq ft leisure facility, concierge, 25,000 sq ft retail and office premises and a podium garden.
Klein’s Wharf proposes 375 homes across three buildings, including 40% affordable homes, a riverside café, a multi-use community hub and more than 50,000 sq ft of public realm with new public access from Westferry Road to the River Thames.
In Islington, Archway Campus is centred on a Victorian hospital building. The site was sold by the NHS to the Middlesex University and University College London in 1998 and it became the Archway Campus, a medical training facility for students. In 2014, the campus was sold to Peabody and after being vacant for over a decade it was acquired by SevenCapital.
SevenCapital plans to refurbish the buildings and redevelop the remainder of the site to deliver 178 homes, 51% of which will be affordable. The scheme will include 242 student rooms in a new alongside flexible commercial and community space.
Damien Siviter, group managing director of SevenCapital said: “SevenCapital is a growing UK real estate group focused on delivering vibrant communities and sustainable schemes that enrich the lives of those who live and work there. After building our presence in Birmingham and the Midlands, we are broadening our operations and expanding into London and the South East.”
James Moody, chief operating officer at SevenCapital, said: “Our expansion strategy in the London marketplace is focused on designing, creating and delivering wonderful new homes over a select number of high-quality developments. Each scheme is unique and tailored to its location, offering buyers highly distinctive homes with a premium specification, exceptional quality and outstanding bespoke design.”
100 Kensington image from SevenCapital
