Macfarlanes advises Realstar as its London private rented sector strategy continues

17 September 2019

Macfarlanes has advised leading real estate investment and management company Realstar on its £119.5m purchase and forward funding of 347 new homes for private rent on the Colindale Gardens development in north London.

This will comprise three residential buildings of 7 to 12 storey height, located close to Colindale Underground station and operated under Realstar's UNCLE brand. The scheme will be built by FTSE-250 housebuilder Redrow Homes.

Set in nine acres of open space, the Colindale Gardens development as a whole will include 2,900 homes, approximately 100,000 sq ft of retail space and facilities such as sports fields and a primary school.  

Macfarlanes has advised Realstar on a number of recent UK deals under its UNCLE brand, including its forward funding of private rented sector (PRS) schemes in Southall, Wembley, Elephant and Castle and New Cross and its financing and acquisition of Ravenscourt House, a 234-bedroom student accommodation block in Hammersmith.

The Macfarlanes team for the Colindale project was led by real estate partner Clare Breeze with assistance from senior real estate solicitor Tania Barnes.

Clare Breeze comments: "We are delighted to continue building on our long-standing relationship with Realstar by assisting with another important scheme in London's emerging PRS market."