Property entrepreneur Raymond Mould’s new company has made its first purchase with a private rented sector deal.
Mould’s and Gerard Griffin’s Newtree Capital has formed a £44m joint venture with ?Galliard Homes to develop ?114 homes at Grove Place in Eltham, SE9.
Under the deal, Newtree has committed to buying 59 of the flats on completion of the project in mid-2016.
Mould’s career includes establishing London & Stamford Property in 2007, a business which merged with Metric Property Investments last year.
The latest transaction is Mould’s first major play since he stepped down from LondonMetric in January 2013.
He said: “The transaction demonstrates that good opportunities continue to exist in the private rented sector, notably outside the prime core areas of central London.”
Oxenwood Real Estate, which was founded by former London & Stamford partners Stewart Little and Jeremy Bishop, will asset manage the buildings. Mould is also a shareholder in the business.
Gerard Nock and Savills advised Newtree; Galliard was not represented.
joanna.bourke@estatesgazette.com
