"Applegate Homes’ impressive track record in this space aligns with our own through the property cycle experience in what is ultimately a long-term investment play. We look forward to growing the relationship while also introducing them to the wider Investec Bank"
- Ian Burdett - Investec
Investec Bank plc has announced that its Real Estate team has provided luxury property developer, Applegate Homes, with an £11.5m facility to fund the development of a super-prime residential property on the world-famous Wentworth Estate in Surrey.
Due to complete in July 2026, Chanray is an 18,700 sq ft, seven-bedroom luxury property with an underground car garage, an indoor pool, gym and spa facilities, a cinema, club room and bar, a library as well as staff living space.
Chanray will be built to optimise energy efficiency, with heating primarily provided by a specially- designed Air Source Heat Pump. The property will be constructed according to the latest building standards and technologies, such as advanced heating and cooling systems, energy-efficient windows and insulation to help lower the building’s carbon footprint.
Knight Frank data shows that the nearby London super-prime residential sector is enjoying improved momentum and is the only global market they track that has delivered a quarter-on-quarter increase in US$10m+ sales from Q2 to Q3 2024. In the 12 months to Q3 2024, London saw 208 sales of US$10m+ properties, totalling US$3.9bn.
“Despite the turbulence caused by the Budget and shifting post-pandemic home ownership patterns, London and the surrounding area have retained their status as the top global destination for ultra-high-net-worth individuals looking to grow their residential portfolio, attracted by a world-class education system, legal framework, cultural offering and time zone advantages," said Ian Burdett at Investec.
“Applegate Homes’ impressive track record in this space aligns with our own through the property cycle experience in what is ultimately a long-term investment play. We look forward to growing the relationship while also introducing them to the wider Investec Bank.” he said.
Lee Simon at Applegate Homes, added: “We are looking forward to working with Investec who are our new investment partners. They are an extremely professional and experienced operator in the high-end residential property market which is one of the main reasons we have chosen them as our new partner.”
