Culvert Court

Start: March 2023

We are pleased to present a prime opportunity to invest  in a commercial-led development scheme in Battersea, London.

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The site is currently occupied by a collection of 128 very small, single or double levels, storage and workshop units, many in poor condition and with limited use. The current site shall be vacated on March 2023 and demolition should be completed in April 2023. 
Replacing the existing collection of small storage and workshop units with a series of larger multi-purpose Industrial units, ultra prime last-mile purpose built property with a BRREAM excellent grade. 

The scheme has considered the impact on the local neighboring residential, while having regard for the rail to the south, the proposal intends to improve the urban context and create an appealing addition to the diversity of the area.

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• Expected Gross Development Value (“GDV”) of £26.4m. 
• Expected total costs of £19.7m, including senior finance. 
• Expected profit of £6.3m, equating to a profit on cost of 32.2%.
• Ingenious Real Estate LLP will provide the senior development debt with a gross facility of £15.8m. 
• The developer will have £2.1m of equity within the scheme
• Expected project time frame of 18 months

• Security: Second charge over the Property
• Investors will earn a fixed return of 13% per annum, which will be paid upon the project's conclusion.

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Investors will be providing a mezzanine loan of £1.8m ("VRID Mezz Loan") that sits under the senior debt, and ahead of all other parties.