Major waterfront housing scheme in Poole backed by £69m loan

Major waterfront housing scheme in Poole backed by £69m loan

A major water­front housing devel­op­ment for almost 300 new homes has been backed by a £69million loan. Amend­ments to the plans for the West Quay Marina site, which is currently home to a car park, are under consid­er­a­tion with BCP Council planners.

Developer London Land Group wants to build 291 one, two and three-bed apart­ments across five blocks having secured initial planning approval in 2017.

The scheme would also include 8,000 square foot of commer­cial space, car parking, bike spaces and a communal garden.

Octopus Real Estate has partnered with Sirius Property Finance to provide a £69million loan for the West Quay Road regen­er­a­tion project.

Mario Luca Balducci, London Land co-founder and chief executive, said: “At London Land we are driven by a vision to create the best possible lifestyle exper­i­ence for our residents through innov­at­ive, reliable and sustain­able devel­op­ments, which includes deliv­er­ing improved energy efficiency.

“We’re delighted that Octopus has the funding that enables us to finance a devel­op­ment that has been carefully designed to reduce energy demand, and to provide wider benefits to the local community by forming part of a wider, long-awaited regen­er­a­tion project. Octopus was the natural choice for us thanks to its B Corp status and strong focus on sustain­ab­il­ity and social impact.”

London Land said it will be using “modern methods of construc­tion”, with off-site techniques like mass produc­tion and factory assembly rather than tradi­tional building.

The firm said this means less waste is created in the produc­tion process.

Andy Scott, Octopus Real Estate head of resid­en­tial devel­op­ment, said: “Within the property industry we have a duty to work together to develop more energy-efficient housing and to deploy innov­at­ive approaches to house­build­ing. This site in Poole is a great example of our wider mission at Octopus to reimagine real estate invest­ment by investing in assets that will deliver real impact to people and the planet.

“The completed apart­ments are designed to be EPC Rated A, fitting perfectly into our strategy of support­ing the building of more sustain­able homes.”

The financial agreement was the largest ever handled by Sirius Property Finance.

Devraj Ray, Sirius Property Finance senior associate, said it had been an “intense but ultimately so rewarding” journey.

He added: “We now wait to see the amazing 291-unit seafront devel­op­ment in Poole rise from the ground and take shape.”

Initial planning permis­sion for devel­op­ment was granted in March 2017 but since then business units had been lying empty and vandal­ised on several occasions.

The marina was formerly occupied by several businesses including City Bay Views Chinese restaur­ant, Twin Sails Wharf and The Marina Club.

Demoli­tion work began in 2018 but there have been a series of amendment tabled in recent years.

The fifth such applic­a­tion, which was submitted earlier this month, is currently under consid­er­a­tion with BCP Council in relation to altering condi­tions of the approved proposal.

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Alon Junger

Chairman

A UK and US (New York Bar) solicitor by quali­fic­a­tion and former London based invest­ment banker, Alon is a serial real estate entre­pren­eur. As a major share­holder and managing director of several resid­en­tial and commer­cial real estate platforms in major cities in Germany, Alon special­ises in identi­fy­ing, struc­tur­ing and growing invest­ment oppor­tun­it­ies.

Mario Luca Balducci

Chief Executive Officer

Having qualified as an Architect and a Programme & Project Manage­ment Profes­sional in the UK, Mario is an accom­plished Real Estate leader. Mario has in-depth knowledge of commer­cial, technical, and socio-economic aspects of property devel­op­ment with a proven record of building markets, and business initi­at­ives.

Mario has been behind the delivery of numerous presti­gi­ous projects including Stratford City, home to the London 2012 Olympic and Paralympic Games.

Alastair Scott Dalgleish

Construction Director

As a chartered construc­tion profes­sional, Alastair has overseen the construc­tion of over 2,000 high-specific­a­tion homes in London. Special­ising in Modern Methods of Construc­tion Techno­lo­gies, he employs pre-cast concrete and steel frame volumet­ric systems across low and high-rise devel­op­ment projects.

Alastair is dedicated to utilising smart building techno­lo­gies alongside rigorous design and tendering processes. He is also a strong advocate for the Group’s Incident and Injury Free Policy.

Gwen Youlden

Marketing & Sales Director

Gwen has a wealth of exper­i­ence in real estate having been behind many award winning marketing and place­mak­ing campaigns for destin­a­tions across the UK. At London Land Group, Gwen estab­lishes desirable and relevant destin­a­tion brands, creating a sense of belonging for our residents whilst support­ing ambitious object­ives for leasing, sales and retention.

Theo Georgallau

Group Financial Controller

After gradu­at­ing from the Univer­sity of Bath with an economics degree, Theo trained as an auditor and gained valuable exper­i­ence in the student accom­mod­a­tion sector before moving into co-living. His expertise includes high-profile acquis­i­tions and technical group reporting to facil­it­ate strategic decision-making.

Ceren Akin

Architectural & Visual Designer

After quali­fy­ing as an architect in Turkey, Ceren pursued a career in strategic branding, brand exper­i­ence, and identity creation. Her studies at Central St. Martins equipped her with a diverse skill set encom­passing archi­tec­ture, visual design, graphic design, and brand identity. As a dedicated consult­ant designer, Ceren has delivered numerous marketing campaigns that have consist­ently exceeded revenue growth expect­a­tions.

Dan Margott

Acquisition Manager

Dan has an extensive track record of sourcing devel­op­ment oppor­tun­it­ies across London and the South East having collab­or­ated with major organ­isa­tions across a broad range of projects, from large strategic regen­er­a­tion to resid­en­tial devel­op­ments and mixed-use commer­cial schemes. His broad market knowledge enables him to quickly identify value add oppor­tun­it­ies.

Nikolai Udalov

Investment Manager

With a strong background in banking and private equity, Nikolai directed his expertise on the real estate sector. Nikolai has strong M&A execution skills and holistic commer­cial, resid­en­tial, and leisure real estate industry knowledge. Addition­ally, he has extensive project manage­ment skills including cross-functional team manage­ment, research, valuation, due diligence coordin­a­tion, negoti­ations, and execution at the highest standards of quality.

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Sarim Rafique Chaudhry

Investment Manager

Sarim graduated from King’s College London with a BSc in Mathem­at­ics, Finance & Manage­ment and trained in the real estate trans­ac­tions team at Deloitte LLP and the commer­cial finance team at Grainger PLC. He has strong commer­cial & resid­en­tial real estate industry exper­i­ence and extensive project manage­ment skills, including research, financial modelling, debt raising, valuation, due diligence, negoti­ations, and deal execution.

Olivia Burton

Development Manager

With over a decade of exper­i­ence in the UK property construc­tion industry, Olivia has a proven track record of deliv­er­ing complex and diverse devel­op­ment projects. She has success­fully managed large, multi-discip­lin­ary teams through all stages of the project lifecycle. Olivia’s expertise includes strategic planning, logistics, and program­ming, enabling her to maximize project viability and return on invest­ment.

Joe Warde-Aldam

Development Manager

Joe’s academic background in countryside manage­ment and exper­i­ence in resid­en­tial real estate have shaped his career as a devel­op­ment manager. He has success­fully managed large-scale devel­op­ment master­plans, most recently a 5,200- unit devel­op­ment focusing on land, planning, and sustain­able devel­op­ment.

Vaughn Fisher

Commercial Manager

With over 22 years of exper­i­ence in the civil construc­tion industry and built envir­on­ment, Vaughan demon­strates a strong opera­tional and commer­cial background across projects of varying scale. His expertise span resid­en­tial, commer­cial and schooling sectors and civil projects. Vaughan is commer­cially astute and has a proven track record in managing complex contracts to ensure success­ful project outcomes.