Invesco secures £200m Build to Rent loan with HSBC UK

Invesco Real Estate secures a £200m Build to Rent loan with HSBC UK to support two stabilised residential schemes.

Invesco's Kew Bridge Build to Rent scheme, refinanced by HSBC UK | BTR News
Invesco's Kew Bridge Build to Rent scheme, refinanced by HSBC UK.

US$88.8bn global real estate investment manager – Invesco Real Estate – secures a £200m Build to Rent loan with HSBC UK to support two stabilised Build to Rent assets in East and West London.

The loan sees HSBC UK solely refinance the Kew Bridge and Barking Wharf Build to Rent schemes delivered by EcoWorld London in 2021 and early 2022. Both developments are located in prime London commuter locations.

“Following the original investment by Invesco Real Estate’s global investor in 2019, the two investments have been successfully developed and leased. As we entered the second phase of our investor’s investment period, we wanted to refinance the two assets with one bank that we could trust to move quickly.

“Following a thorough review by our debt advisors Brotherton, we were delighted to be able to select HSBC UK, whose real estate team was the ideal choice to enable us to take these two investments forward.”

John German, Managing Director, Residential Investment, Invesco Real Estate

The Kew Bridge Build to Rent scheme includes 487 apartments across four buildings, with extensive amenity spaces and a restaurant and coffee shop on the ground floor. The development forms part of a wider £600m regeneration of brownfield land, which facilitated the delivery of Brentford Football Club’s 17,250 seat stadium.

The Barking Wharf Build to Rent development includes 595 apartments across two buildings. Amenities include a concierge, gym and social and work lounges. New shops, cafes and a new museum for the borough are now also open.

“The evolution of the Build to Rent market, particularly in London, has been dramatic in recent years with no sign of any let up in demand or investor interest. This is a significant loan for the sector and demonstrates our appetite to support this important route to delivering new housing in the UK.”

Darren Wilson, Head of Private Rented Sector, HSBC UK