The strategy will focus on repurposing existing underutilised commercial assets that offer the potential for residential-led mixed-use projects.
In a statement, the parties said they would target the UK’s ‘fastest growing regional hubs’ with much needed homes to the domestic rental market. The first project is located in the Finneston region of Glasgow.
SFP will focus on raising the equity and Redevco UK will be responsible for sourcing opportunities and the asset- and development management.
SFP is one of Switzerland’s biggest real estate asset managers looking to expand residential investment throughout Europe through their newly formed UK subsidiary.
Patrick Brenninkmeijer, business development Director at Redevco, said: ‘We are ready to find suitable properties and repurpose them into residential-led mixed urban schemes, starting with the seed asset in Glasgow for which the first fund raising round has been successfully closed.’
