Investec Real Estate has refinanced London’s tallest residential tower outside Canary Wharf with a £50m loan.
The lender has provided the financing to City & Docklands Group.
Completed in 2022 and 100% occupied, the 149-flat scheme comprises a mix of for-sale and rental homes and forms the second phase of the 54-storey One West Point, W3, the North Acton/Old Oak and Park Royal regeneration area.
Ian Burdett at Investec Real Estate said the living sector continued to be a conviction market for the business “due to its compelling supply/demand fundamentals”.
City & Docklands chief executive Gary Sacks added that the debt package had enabled it to “fully stabilise” its BTR offering so it can “build our in-house management brand Awol while continuing to offer a five-star service to our tenants.”
Image from City & Docklands Group
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