Related Argent is exploring recapitalisation strategies for its 484-home Ferry Island build-to-rent (BTR) scheme in Tottenham Hale.
The company has mandated Eastdil Secured to advise on debt and Colliers on equity.
The company has just launched the Ferry Island homes, which form part of a wider 1,000 home masterplan at the 3.5-acre site. The development has a total GDV of more than £600m and comprises the new BTR homes as well as market sale and affordable homes and circa 16,000 sq ft of new retail space.
Oli Rifkind, chief development officer at Related Argent, said: “Launching Ferry Island, and the subsequent completion of the masterplan, is a major milestone for us as a business, bringing to a close 10 years of delivery and allowing us to turn our attention to new development opportunities. In a market where supply has been constrained by viability challenges, maintaining momentum and delivering a scheme of this scale is a strong signal of both the location’s fundamentals and our long-term conviction in the sector.
“Our focus now shifts to stabilising the asset and progressing a recapitalisation strategy, while continuing to build a high quality rental operating platform across Author, The Maple and Ferry Island, that not only meets, but exceeds, the needs of our growing resident base.”
