Regenerate London has announced the launch of the Regenerate London Bond, allowing investors an opportunity to help deliver new housing in the capital.
The company will work closely with borough councils, helping to build new communities by purchasing greenfield and brownfield sites and making unutilised or under-utilised land ‘development-ready’, with fully optimised planning permissions for sustainable and regenerative high density, mixed-use developments. The land will then be sold to developers, or where the planning permission demands it.
Where it makes good business sense, the company may also seek a development partner.
The initiative will be chaired by John Wheeler, the founder of Regus.
“We will be focusing on development opportunities which help to address the chronic housing shortage in London, and are fully committed to the creation of a legacy for future generations,” said Wheeler.
The firm has secured a pipeline of potential deals within the Crossrail footprint, target schemes including vacant sites or existing sites with some commercial element such as leisure facilities, municipal buildings, pubs, former pubs, petrol filling stations, tertiary and secondary retail parades.
The proceeds of the new Bond will be used to fund the acquisition of land, options on land and the development of land in Greater London and the Home Counties, with a focus on areas impacted by major transport infrastructure initiatives, such as the Crossrail.
The bond will offer investors a fixed rate of return of 7% gross interest per annum over five years paid quarterly. The capital will be returned in full at maturity.
Early investors will benefit from an early bird incentive comprising a bonus representing an annualised 8% interest paid, equal to the interest calculated from the date the investors’ application is accepted.
The minimum investment will be £1,000, with no upper limit.