Investment Details

Property Summary

Strawberry Place

Return
15%

Term
Fixed 12 months term

Strawberry Place

Property Details

SITE LOCATION
Strawberry Lane, Newcastle
A new mixed use development in the heart of Newcastle’s retail core and transport epicenter, a stone’s throw from the famous St. James’ Park.

SUMMARY
  • Two residential blocks, circa 315 apartments, pre-sold to an institution
  • Includes 180-bed hotel and lease for a Grade A Operator
  • Additional provision of 140,000 sq ft of Grade A office space. 40% has been pre-let to one of the North East’s largest law firm
  • Purchase price: £10.5 million
  • GDV: £148 million
  • Targeting profit of £50 million

SITE BACKGROUND
 A prime location for development, Strawberry Place is situated between the city retail core, Newcastle Helix, St. James’ Park, and the termination of St James’ Boulevard. With an elevated position, the site is a prominent part of key viewpoints within the city and surrounding area, particularly St. James’ Park.

Formerly an industrial hub for Newcastle, in recent years the site has predominantly become commercial and retail oriented. and continues to undergo substantial redevelopment, as it transitions into a high density, mixed-use city quarter.

FINANCIALS
We have exchanged Heads of Terms. This Loan Note is for 12 months and has a fixed return of 15% which will be paid upon completion of the loannote.

EXIT
This project will be sold to an institutional investor, at which point our Loan Note investors will be repaid.
We will then retain the hotel and office space as a stabilisation, before eventually selling to an institution.

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Contact Info

Kemp House 152 – 160 City Road,
London, EC1V 2NX

+44 (0) 207 566 4052

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