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Ingenious Real Estate completes two deals

Ingenious Real Estate has completed its two largest deals to date. The team has provided a €35.9 million (£32 million) bridging facility to part fund the acquisition of the former Honey Monster Factory in Southall for future development, and a €20.2 million (£18 million) facility to fund the acquisition and construction of a premier waterside site in Bristol.
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Ingenious Real Estate

Ingenious Real Estate has provided over €246.6 million (£220 million) in UK residential and commercial loan facilities, firmly cementing the business as a leading investor in the UK property market.

The deals:
• Acquisition of the Honey Monster Factory: Ingenious Real Estate has provided a bridging facility to a consortium led by Galliard Homes to assist with the purchase of the 16 acre West London site. Galliard will work closely with Ealing Council to design and to deliver the regeneration of the landmark site over the coming years. The project is linked to the wider development of Southall, which is set to benefit from the opening of a new Crossrail station, bringing with it much reduced journey times to the West End and the City.
• Development of Brandon Yard Bristol: Ingenious Real Estate have provided an €20.2 million (£18 million) development facility to Acorn Property Group, who will utilise the facility to fund the construction of a one-acre plot bordering the River Avon. The project will comprise 56, bespoke designed modern apartments and two townhouses and will incorporate listed features. Over 20% of units were reserved prior to construction commencing which can be attributed to the ongoing demand for attractive and affordable residential property in the area. The facility took only four weeks to complete from the issuance of heads of terms.