• £41.3 million refinance supports North Kensington Gate’s transition to a long-term build-to-rent strategy
• Facility backs a completed residential asset in a major London regeneration area, alongside Housing Growth Partnership

Investec Bank plc, a leading international financial services provider, today announces that its Real Estate team has provided City & Docklands (“C&D”) and Housing Growth Partnership (“HGP”) with a £41.365 million investment loan to refinance North Kensington Gate, a completed build-to-rent asset in the Old Oak Common regeneration area.

The facility supports the borrower’s long-term strategy in an area of West London undergoing significant regeneration. The transaction builds on Investec’s longstanding relationship with City & Docklands, a London-based property investment and development company focused on high-quality residential and commercial regeneration, and its previous work with Housing Growth Partnership, the Lloyds Banking Group and Homes England-backed investor.

Located in Old Oak Common, North Kensington Gate provides much-needed rental housing in a part of the capital benefiting from substantial infrastructure investment and wider regeneration over the coming years, centred around the Old Oak Common Station, which is set to be a Super-Hub connecting HS2, the Elizabeth line, GWR and the Heathrow Express. Investec structured a tailored refinancing solution around the client’s evolving business plan, reflecting its relationship-led approach and its understanding of both the sponsor and the underlying asset.

Ian Burdett, Investec Real Estate, said:

“City & Docklands and Housing Growth Partnership required a financing solution that reflected their strategy for the asset. Investec was able to provide a tailored refinance that supports the long-term hold of North Kensington Gate as a build-to-rent scheme, while also backing a client relationship that has been built over many years.

“This transaction demonstrates Investec’s ability to structure flexible capital around our client’s business plans and to support experienced sponsors as they position assets for long-term growth in locations with strong underlying fundamentals.”

Gary Sacks, CEO at City & Docklands, said:

“North Kensington Gate is an important scheme for City & Docklands and for the wider Old Oak Common area. As our strategy evolved around an area undergoing substantial regeneration, it was important to work with a funding partner that understood both the asset and our wider vision. Investec’s support and long-standing partnership gave us the confidence and flexibility to move forward with the right structure for the next phase of the scheme.”

The deal also adds to Investec Real Estate’s recent track record across the wider Living sector. Recent examples include an £84.75 million senior development loan, alongside Bank of Ireland, to a joint venture between JRL Group and HGP to fund a 414-home build-to-rent scheme in Luton.

Tasos Ikonomou, Investment Director of London & Southeast at HGP said:

“HGP is pleased to continue supporting the next phase of North Kensington Gate, a scheme that plays a meaningful role in expanding the high‑quality rental housing offering in West London. With major transport and regeneration investment underway at Old Oak Common, this project is well‑placed to deliver lasting benefits for local residents and the wider community.”

TRST, Howard Kennedy, Addleshaw Goddard and Chatham advised the borrowers. Shepherd and Wedderburn advised Investec.

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