Private propco has increased exposure to development activity across all sectors
Topland has revealed an ambitious pipeline of development activity having recently completed strategic site acquisitions and committed to delivering development projects with a combined GDV of £850m by 2025.
The private property company, whose activities include investment, lending, co-funding, hotel and healthcare operations, has significantly increased its exposure to development projects.
Topland’s current pipeline includes London offices, Build-to-Rent, PBSA, prime residential, industrial and hotels. Having assembled a range of sites and with planning in progress for some 250,000 sqft of commercial space, c.1800 residential units, and 540 hotel beds, this represents Topland’s largest ever development pipeline to date.
Key development projects include: Paradise View, a 159-unit build-to-rent scheme in Birmingham to be delivered in a joint venture with Colico Living; a mixed-use development in Islington in conjunction with Enstar; Verdant, a flagship sustainable 135,000 sqft speculative office building in Farringdon in partnership with Beltane Asset Management; the redevelopment of Brighton’s Metropole Hotel and the construction of a new 220 room Maldron Hotel; the conversion of an office scheme in Coventry to a mixed-use scheme including 1200 PBSA units; a major office-to-residential conversion in Cardiff of 460 Build-to-Rent and student units and Delta Point, a 45,000 sqft industrial scheme in the West Midlands.
Sol Zakay of Topland said: “We believe that the initial uncertainty surrounding Brexit, followed by the ongoing fall-out from the pandemic curtailed a lot of opportunistic development activity. We are beginning to see lots of opportunity to realise value and are increasingly attracted by the development arena.
“Our development rationale remains largely agnostic in terms of sector and location, but we are rigorous in our approach to site selection and the potential upside upon exit. With our combination of in-house development expertise and exposure to best-in-class joint venture partners, I am confident of becoming one of the UK’s most active private developers during the coming 18-24 months.”