Midlands developer turns to London with £1bn resi schemes trio

Aaron Morby 4 weeks ago
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Midlands property investment group SevenCapital has unveiled details of a £1bn expansion into the London residential market.

Former Victorian Hospital building in North London will be converted int flats with several new blocks also built on the Archway site
Former Victorian Hospital building in North London will be converted int flats with several new blocks also built on the Archway site

The business, founded in 2009 by chairman Bal Sohal and managing director Damien Siviter, is pressing ahead with three major pipeline projects in Kensington, Islington and the Isle of Dogs.

Subject to planning consents, this will see over 1,000 homes in newly-built and converted heritage buildings.

Of the three pipeline projects, the first a £500m residential scheme called 100 Kensington has planning consent for 462 homes and is in construction.

Its other two projects are now in planning, with Klein’s Wharf in the Isle of Dogs providing 375 new homes, and the £210m Archway Campus in Islington, comprising 178 new homes of which over 50% are affordable.

Across the consented schemes and those in the planning pipeline, SevenCapital expects to add an increased concentration of mixed-use development and more than 10,000 residential units to the company’s UK portfolio over the next five to seven years.

The group’s initial projects in Birmingham and the Midlands include the flagship St George’s Urban Village and adjacent Kettleworks in the Jewellery Quarter, providing apartments and townhouses.

Designed by Corstorphine & Wright, 100 Kensington is located on a 1.7 hectare site and is under construction will provide 462 new homes, including 276 market sale apartments and 186 affordable homes complete with a 15,000 sq.ft. leisure facility, concierge, 25,000 sq.ft. retail and office premises and a podium garden.

CGI of 100 Kensington Tower being built by Ardmore

Located off Westferry Road on the Isle of Dogs, fronting onto the River Thames, Klein’s Wharf is currently in planning with proposals to provide 375 newly built homes across three buildings, including 40% affordable homes.

The wharf is adjacent to the Millwall Outer Dock giving the homes on the upper floors the advantage of dual aspect water views over the Thames and dock basin.

The proposals for the scheme include a riverside café, a flexible multi-use community hub and over 50,000 sq.ft. of high quality and green-led public realm with new public access from Westferry Road to the River Thames.

Klein’s Wharf plan includes resi scheme includes a riverside café, a flexible multi-use community hub

The Archway Campus in Islington is centred on a Victorian hospital building.

In 2014 the campus was sold to Peabody and after being vacant for over a decade it was acquired by SevenCapital which plans to refurbish the key historic buildings and redevelop the remainder of the site to deliver 178 newly built and converted homes, 51% of which will be affordable.

The scheme will include student accommodation in a new building providing 242 student rooms alongside flexible commercial/community space.

 

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