First London investment a ‘pivotal acquisition’ for Manchester’s Blackmore Group

North West investment firm The Blackmore Group is stepping up its national expansion strategy with its first residential deal in London.

The Manchester headquartered company acquired Fusion Court, a block of 20 apartments in the Stratford district of East London, from Kent developer Featherstone Homes.

Featherstone completed the scheme, located on Leytonstone Road, earlier this year.

The £8.3m development was bought by the Blackmore Bond, which offers investors a fixed return over a four- or five-year term.

Blackmore MD Patrick McCreesh said: “We’re pleased to have completed on this pivotal acquisition for the Blackmore Bond, which marks our first residential investment in the Greater London area.

“We’re targeting more key locations for investment on commuter routes into central London and are in advanced negotiations over a number of sites.”

He continued: “The apartments in Fusion Court are fitted out to a high specification and each has a balcony.

“They offer people an excellent standard of living as well as first-class travel links into central London and beyond, and we expect to see high demand for them when they go on the market in the near future.”

Blackmore was advised on the transaction by BNP Paribas Real Estate.

The homes team at BNP Paribas Real Estate will now market the apartments at Fusion Court for sale.

Blackmore, which relocated to a new HQ in Manchester city centre in March, currently has a number of schemes underway in the North West, including the transformation of a derelict church in Cheadle Heath, Stockport, into nine apartments.