NEO Bankside will feature in this year’s Open House London weekend!
NEO Bankside will be open for visitors on a first come basis on Saturday 21st September between 10:00 and 16:00. For more information visit www.neobankside.com or www.londonopenhouse.org
28/06/2013 13:58 by Buildington
NEO Bankside has received an award for Best Large Housing Development at LABC’s London Building Excellence Awards 2013.
The 217 apartment development won the award for its innovative design that exceeds all the building standards, as well as close cooperation between Southwark’s building control team and developers.
LABC Chief Executive Paul Everall said:
“This high profile development on brownfield land by one of the top tourist attractions in London could have seen all sorts of problems during the build process. But because of the close working relationship between building control and the developers and builders the South Bank now has a spectacular and iconic development that has transformed the local area.”
NEO Bankside has become one of London’s most successful residential developments, with a unique external bracing system designed by Rogers Stirk Harbour + Partners. Testament to the scheme’s universal popularity is the number of awards it has earned to date – NEO Bankside has now been accredited with 13 awards, each commemorating different aspects of the development’s design.
NEO Bankside is a development by Native Land and Grosvenor. Further information on NEO Bankside can be found at http://www.neobankside.com.
Source: Native Land www.native-land.com 7. June 2013
11/06/2013 16:18 by Buildington
Native Land secured refinancing for its multiple award-winning London development, NEO Bankside, through a debt facility of £49 million from Lloyds Banking. Native Land and Grosvenor, the joint venture developers of NEO Bankside, have obtained the loan for two years.
The new debt facility will enable Native Land to capitalise on sales values at NEO Bankside, responding to the continued popularity of London’s South Bank, led partly by the extension to Tate Modern. The developer is currently selling the scheme’s premium upper floor apartments, and is on track to release its exclusive penthouses later this year.
NEO Bankside is a widely acclaimed £400m world class residential scheme situated immediately adjacent to Tate Modern. The development comprises 217 apartments across four pavilions and officially launched in May 2011. Ninety per cent of apartments have sold since the launch, setting new standards for luxury residential property on the South Bank.
Alasdair Nicholls, Chief Executive of Native Land, said:
“Lloyds Banking’s decision to provide a £49 million debt facility is an endorsement of Native Land and Grosvenor as developers. Our track record of delivering high quality, successful residential schemes during the economic downturn has reinforced our standing with lenders in the current debt market.”
Craig McWilliam, Executive Director, Grosvenor Developments, said:
“The refinancing deal is testament to NEO Bankside as a development. It has already set a new precedent for luxury residential sales in the South Bank area, potentially achieving values as high as £2,400 per square foot. The new debt facility will allow us to maximise the success of the scheme through the phased sales plan in 2013.”
Michael Weir, Director Lloyds Bank Corporate Real Estate, was responsible for the transaction and confirmed:
“Lloyds Bank is delighted to be able to continue to support the NEO Bankside development which remains one of the most exciting and iconic schemes in central London. This transaction reinforces our trusted relationships with both Native Land and Grosvenor – counterparties we are very proud to describe as core business relationships. Prime London development remains one of our priority investment focuses, and this project typifies such appetite.”
Native Land and Grosvenor acquired the NEO Bankside site from Land Securities in July 2006 in a 50:50 joint venture partnership. In 2008, they secured funding from Bank of Scotland Corporate (now Lloyds Banking Group) to develop the scheme.
Source: Native Land 5.2.2013
25/02/2013 01:33 by Buildington
Native Land, Grosvenor and Amcorp Properties of Malaysia have confirmed the acquisition of Pavilion D at NEO Bankside as a rental investment.
A price of £50m has been agreed by Native Land, Grosvenor and Amcorp Properties of Malaysia for Pavilion D, backed by a £27.5m loan facility from Lloyds Banking Group.
Pavilion D, a 53 apartment building, will offer studio, 1, 2 and 3 bedroom apartments for rent ranging from £425 per week to £2,875 per week. The purchase is due for completion in August 2012.
The acquisition is Native Land’s second rental investment and the company intends to make further selective investments in London’s prime private rented sector.
Commenting on the acquisition, Alasdair Nicholls, Chief Executive of Native Land said:‘
’Our decision to retain a longer term investment in NEO Bankside through this acquisition, reflects our strong belief in the future of the rental market in prime London locations. This also underlines the appeal of our developments as long term real estate investments and we are keen to share the benefits that our investors in Pavilions A, B and C enjoy. The quality, broad appeal and success of NEO Bankside can be measured by the interest we have received from investors and owner-occupiers alike, and the significant number of sales completed to date.’’
Craig McWilliam, Executive Director at Grosvenor added:
“The ongoing strength of the London rental market, particularly for well designed schemes in prime locations, creates an attractive investment proposition. NEO Bankside has proved to be one of the most sought after schemes in the UK and we are very pleased to be taking advantage of the interest from long term investors in this project and growth in the attractiveness of London’s Southbank as a great place to live and invest”.
A representative at AMPROP said: "The joint venture is a good opportunity for AMPROP Group to venture further into the London property market. The JV will also pave the way for AMPROP Group to partner the UK's credible developers, namely Native Land and Grosvenor Group."
Designed by Rogers Stirk Harbour + Partners and developed by Native Land and Grosvenor, the £400m NEO Bankside development comprises 217 apartments spread across four state-of-the-art pavilions, as well as 11,000 sq ft of retail space in the heart of London’s Cultural Quarter, situated immediately adjacent to Tate Modern. The development has helped create a new prime location in the capital. It has helped further regenerate the area while strengthening the South Bank’s sense of community through new public spaces, shops and leisure facilities.
Source: Native Land 3.5.2012
04/05/2012 12:24 by Buildington
Award winning NEO Bankside development now on Buildington!
06/04/2012 17:59 by Buildington