D e v e l o p m e n t. a g e n c y. c o n s u l t a n c y.
The Buyout of United House Developments (UHD).
In September 2015 Nick was heavily involved in the acquisition of the regeneration business of UHD. The £23M purchase consisted of a group of companies that had various interests in four significant development opportunities in north and east London. These development opportunities were City North adjacent to Finsbury Park station, the refurbishment of the 26 storey grade II listed Balfron Tower in Poplar, two phases of development at Gallions Quarter (totalling c.550 homes) and the regeneration of Chrisp Street Market in Poplar.
The deal added c.£500M of GDV and 1,500 dwellings to Telford Homes’ development pipeline.
The Acquisition of Carmen Street from Ballymore for the PRS.
In November 2015 Nick negotiated the acquisition of a 206 unit, 22 storey scheme in Poplar E14 from Ballymore. Once the land purchase completed in April 2016, Telford Homes simultaneously sold the completed development (excluding the 56 affordable homes) to M&G Real Estate, one of the UK’s largest property investors for £63.2M.
The transaction to M&G was Telford Homes’ second in the Private Rented Sector (PRS) and is on a fully forward funded basis. It will comprise of an initial land payment followed by regular payments throughout the construction period and therefore will not require any debt finance with only limited equity to be invested by the Group.
Break Up of a £200M National Portfolio.
During his time at PARAMOUNT Nick played an integral role in the break up and disposal of the Admiral Tavern portfolio. The portfolio ranged from large freehold sites in south Wales to urban corner sites in central London, to short leasehold car parks in Manchester.
Options at Towcester Road, London, E3.
Nick successfully agreed two option-to-purchase agreements with two major landlords on a large industrial estate in Tower Hamlets. The estate is not far from Bromely-By-Bow underground station and is the final remaining designated industrial estate in the Borough. With all the surrounding industrial land being released from the designation and redeveloped in recent years, these option agreements should prove valuable in the near future.
Unconditional Purchase of Land on Commercial Road, E1.
In the summer of 2015 Nick negotiated the unconditional land purchase of former Royal Duchess public house near Limehouse. The site is now in the planning system and should deliver c.30 residential units.
Former Bus Garage in Upton Park.
Telford Homes’ 192 unit scheme known as ‘The Forge’ on Redcylffe Road, London, E6 was acquired unconditionally by the Group in 2014. Planning was obtained for a 192 unit scheme which has now also been sold into the PRS to M&G Real Estate.
In December 2016 NC Real Estate acted for Quinata Global in the acquisition of this tenanted office building near Southampton. The building benefitted from PD rights to convert in to a 67-unit residential scheme. There is also scope for further planning gain should Quinata wish to pursue. The sellers were Emblem Properties.
Nick is currently working on several high-profile land transactions in London and hopes to report on them soon.
Should you wish to have a conversation in confidence regarding the acquisition or sale of any real estate please feel free to get in touch.