Apex Capital Partners has bought two adjoining sites near Old Kent Road for an £80m residential development.
The investor bought the freehold to a 0.5-acre industrial site at 310-326 St James’s Road, SE1, from housing association Peabody for £6.26m. In a second deal with Roca Investments, it paid £2m for a further 0.1-acre parcel at the neighbouring 330 St James’s Road.
The two sites are located within the Old Kent Road Opportunity Area, one mile from South Bermondsey station. The sites are opposite Telford Homes’ Bermondsey Works and close to Galliard Homes and Apsley House Capital’s £600m development at Cantium Retail Park.
Apex Capital Partners has lodged a planning application for 153 homes, including 35% affordable housing, and 20,000 sq ft of commercial space. The Loom Factory development would be split between two blocks with a maximum height of 17 storeys, stepping down to eight storeys.
The scheme would be the largest residential development for Apex Capital Partners. The private equity real estate manager was founded in 2019 by Paul Benardout and Jonathan Kor. It funds development on behalf of investors on a project-by-project basis and has another scheme in King’s Cross comprising a 12,873 sq ft office.
Apex’s acquisitions come amid a flurry of activity in the area with a number of consented schemes hitting the market, with developers eyeing investments from the growing build-to-rent sector.
Henshall and Partners advised both vendors. Kalmars also advised Peabody.
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