Regal London and global alternative asset manager Cheyne Capital Management have acquired the Great North Leisure Park, in North Finchley, for an undisclosed price.
The park, which sits on an 11.2 acre site, is earmarked for development as a strategic site for residential-led development and will house Regal London’s third Real Estate Academy.
Jonathan Seal, CEO of Regal London, said: “The acquisition of Great North Leisure Park is another step in the evolution of our strategy – to bring our expertise and skills to complex urban settings, creating sustainable, beautiful buildings of all kinds with thoughtful public spaces for local people to be proud of.
“We are London specialists and are excited to have this opportunity to open up this corner of Barnet to new residents and businesses whilst bringing our customary flair to an area that we know well.”
Arron Taggart, head of UK real estate at Cheyne Capital, added: “We are pleased to be supporting this redevelopment scheme which reaffirms our investment thesis of originating lending opportunities in value-add assets in partnership with experienced borrowers with whom we can form a long-term relationship.
“Our continued support of the Regal London platform underscores our conviction in their ability to deliver quality mixed-use schemes in London which look to support and benefit the local communities, and this is evidenced by the Great North Leisure Park redevelopment.
“Projects such as this which, if done right, will have a hugely positive effect on the local community, we find particularly of interest. We know that, in Regal London, we have the right partner and we look forward to furthering the strong relationship we have built with them.”
