ICG Real Estate provides Arada London with £152m loan for 251-unit residential development in NW London

• The 25-storey private tower will comprise 172 private for-sale units, whilst a separate 5-7 storey block will offer 79 affordable homes and three retail units
• Construction is already underway at the 0.93-acre site adjacent to Swiss Cottage Underground Station with completion expected in autumn 2028

ICG Real Estate, the real estate division of global alternative asset manager ICG, today announced that it has provided Arada London, the UK arm of UAE-based real estate developer Arada, which specialises in large-scale, sustainable lifestyle communities, with a £152m loan to fund the acquisition and development of two residential buildings at 100 Avenue Road in Swiss Cottage, north-west London. This is the third transaction between ICG’s Real Estate Credit business and Arada London, demonstrating continued confidence in the latter’s project execution. ICG previously provided financing to Regal for two London projects prior to its acquisition by Arada.

Construction is already underway by Arada London at the 0.93-acre site, which has an implemented planning consent for two buildings: a 25-storey tower comprising 172 for-sale units with access to an impressive range of high-quality amenities including a concierge, gym, pool, golf simulator and co-working space, and a separate 5-7 storey block offering 79 affordable homes, all of which will be social rented accommodation, and three retail units.

Due to complete in autumn 2028, the project is located in a newly upgraded public square immediately adjacent to Swiss Cottage Underground Station, the Hampstead Theatre and the Swiss Cottage Leisure Centre.

Jai Patel, Managing Director at ICG Real Estate, commented:

“Arada London has an impressive track record of delivering large-scale, landmark developments across the city of London and we are delighted to be collaborating with them on our third transaction together.

The development is strategically located in Swiss Cottage, which has a global reputation for being a highly desirable residential area with excellent transport links and easy access to Hampstead Heath, Regent’s Park and several of London’s top schools. This scheme will deliver an attractive turnkey product into a highly supply-constrained submarket, alongside a significant affordable housing provision that will serve both domestic and international residents.”

Marc Eden, Investment Director, Arada London, commented:

“ICG Real Estate combines disciplined underwriting with a strong understanding of how residential projects are delivered in practice, from start to finish. At 100 Avenue Road, the ICG team proved that they share Arada London’s clear focus on quality, sustainability and long-term value, alongside the delivery of critical affordable housing. We are pleased to be working together again to bring forward a high-quality scheme in a well-connected part of London.”