- Funds advised by Hilltop Credit Partners Limited (“Hilltop”) have provided a development finance facility of GBP15million to Gage Properties
- The funds will be used for the acquisition and development of 9 riverside houses with private boat moorings in the affluent village of Taplow, Buckinghamshire
- The arrival of Crossrail in Taplow in 2022 would bring direct journey times to central London down to 40 minutes, further enhancing the area’s appeal
- There has been a surge in demand for property valued over £1m whilst waterside homes are commanding up to 46% more than landlocked comparables
London, 5 January 2021: Funds advised by Hilltop Credit Partners, a specialist funding partner for SME residential developers, have completed a £15m loan to Gage Properties for the acquisition and development of 9 units within the reputable Taplow Riverside development by Berkeley Homes in South Bucks.
Of the 9 units, 2 will be conversions of the Old Boat House, an existing office facility, into large semi-detached houses; 6 will be newbuild terrace houses; and 1 will be a refurbishment of an existing on-site cottage. Each house will come with its own private boat mooring, appealing to the target audience of affluent Londoners looking to relocate as a consequence of the pandemic.
Rightmove has reported a surge in the sales of homes above £1m since the end of the lockdown, with year-on-year sales up 105% and outperforming the rest of the market. Over the same period Knight Frank report waterfront homes selling for up to 46% more than landlocked comparables, with asking prices increasing faster.
Project sponsor and Managing Director of Gage Properties, Gavin Essex said:
“Taplow is our largest site acquisition to date, and our second to be funded by Hilltop Credit Partners. The development is a particularly exciting opportunity to add an aspirational element to an already popular development. We have worked with Hilltop previously and their commitment to their clients made choosing them again an easy decision.”
In what can be described as a ‘renaissance’ for areas outside of London, people are increasingly willing to trade commuting for larger, better homes. The arrival of Crossrail in Taplow in 2022 would bring direct journey times to central London down to 40 minutes, further enhancing the area’s appeal among professionals who would historically purchase in affluent London boroughs.
Paul Oberschneider, Founder and CEO of Hilltop Credit Partners, commented:
“Gage have proven to be a pleasure to work with, thoroughly innovative, professional and dedicated. This new development is truly gorgeous; whilst falling outside of the ‘affordable’ bracket, I have no doubt whatsoever about its success. With this announcement, Hilltop has facilitated construction of 176 residential units across England to date.”
Backed by global real estate investment firm Round Hill Capital, Hilltop aims to help developers who know their local markets but need access to tailored financing solutions in order to fund their projects.
Notes to the editors
About Hilltop Credit Partners
Hilltop Credit Partners is a London-based specialist end-to-end funding partner for small and mid-sized residential property developers across the UK.
With a proven track record in property development, asset management and financial structuring, Hilltop Credit Partners provides a one-stop funding solution for up to 90% loan-to-cost, with loans ranging from £5 million to £50 million.
Hilltop is backed by Round Hill Capital, a leading global real estate investment firm with a focus on macro-driven residential real estate investment strategies.
Follow us at Hilltop Credit Partners here: https://www.linkedin.com/company/hilltopcreditpartners/
Read our market insights here: https://www.hilltopcreditpartners.com/insight/
For more information, please visit Hilltop Credit Partners at www.hilltopcreditpartners.com
About Gage Properties
Gage Properties is a private property development, investment & asset management company specialising in the renovation, refurbishment and development of residential and commercial properties in prime London locations and the rest of the UK.
Established in 2005 by Gavin Essex, Gage is built on his 20 years of extensive experience in the London property market in which he is regarded as an expert in his field.
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