A partnership between housing developer Native Land, Grosvenor, Hotel Properties (HPL) and Amcorp Properties Berhad has secured financing for a major residential development at Campden Hill in London.
A partnership between housing developer Native Land, Grosvenor, Hotel Properties (HPL) and Amcorp Properties Berhad has secured financing for a major residential development at Campden Hill in London.
The partners have received a £200 mln (€243 mln) debt facility from two Singaporean banks, DBS Bank and OCBC Bank.
The partnership recently took possession of the former Holland Park School site and development work is due to start in Spring 2014.
Native Land is development manager for the project on behalf of its partners. In addition to its equity participation, HPL was instrumental in securing the development finance from the two Singaporean banks.
The debt facility will enable Native Land to develop 72 private apartments and 97 units of mixed-tenure affordable housing on three sites across the Royal Borough of Kensington and Chelsea.