Member Article

Telford Homes acquires regeneration business in £22m deal

Telford Homes has acquired the regeneration subsidiary of United House Developments (UHD), on a debt free basis, for £22.97m.

The regeneration business of UHD consists of a group of companies that have various interests in four significant development opportunities in North and East London.

These development opportunities are City North adjacent to Finsbury Park station, the refurbishment of the Balfron Tower in Poplar, two phases of development at Gallions Quarter near Royal Albert Dock and the regeneration of Chrisp Street Market in Poplar.

One employee is transferring from UHGH to Telford Homes with no other central costs, assets or liabilities being acquired. The developments are all at various stages in the planning process but they have the combined potential to add some £500m to the Group’s existing £1bn development pipeline.

City North is a mixed use development comprising 355 apartments and 109,000 square feet of retail, leisure and office space in a joint venture with the Business Design Centre in Islington. The scheme includes two 23 storey towers linked by a 12 storey terrace building.

Balfron Tower is an iconic 26 storey grade II listed building in Poplar. The project involves the refurbishment of 146 existing homes in a joint venture with Londonewcastle and the owners, Poplar HARCA.

The development is subject to receipt of planning permission, and the joint venture has been working with architects Studio Egret West and interior designers Abe Rogers to produce a proposal sympathetic to the heritage of the tower.

Gallions Quarter is a multi-phase development adjacent to Gallions Reach DLR station near Royal Albert Dock. The development is controlled by Notting Hill Housing Group (“NHHG”) and Telford Homes is acquiring a 50 per cent interest in two of the phases to be developed in partnership with NHHG.

Jon Di-Stefano, Chief Executive of Telford Homes, commented: “Telford Homes is one of the most respected developers in London and we are targeting significant growth over the next ten years.

“The acquisition of the regeneration business of United House Developments represents an excellent opportunity to make a substantial addition to our development pipeline including longer term strategic opportunities.

“The four exciting developments being acquired are in locations where housing demand remains strong and we look forward to working with the various partners already involved in the schemes.

“I would like to thank Rick de Blaby and everyone at United House for their assistance during the last two months and I wish them all the best in the future.”

This was posted in Bdaily's Members' News section by Ellen Forster .