3rd March 2023

Regal London, in partnership with global alternative asset manager, Cheyne Capital Management (UK) LLP (“Cheyne Capital”), has acquired Great North Leisure Park, an 11.2 acre site on High Road, North Finchley in the London Borough of Barnet. Bordering on Glebelands Open Space, the retail park is earmarked by Barnet as a strategic site for residential-led redevelopment.

Great North Leisure Park will also house the third Regal London Real Estate Academy. The first Academy was launched in Watford in 2022 with the second in Brent earlier this year. Local people in each borough in which the developer is active can access a local Regal London Real Estate Academy delivered in partnership with Building Heroes. Each Academy provides construction qualifications and routes to employment for 70 military veterans and their families, and for those who may find it challenging to get ahead in life.

This is another significant acquisition for Regal London, cementing the developer’s current presence in its sixth local area, alongside significant sites in Brent, Camden, Hackney, the City of London and Watford. This includes over 800 homes at Fulton & Fifth in Brent; 100 Chalk Farm Road next to the iconic Roundhouse in Camden; and The Clarendon Works, Regal London’s first standalone office development in Watford, Hertfordshire.

Regal London has a contracted development pipeline of more than 8,500 homes and 650,000 sq ft of commercial space within the M25.

Jonathan Seal, CEO of Regal London said: 

“The acquisition of Great North Leisure Park is another step in the evolution of our strategy – to bring our expertise and skills to complex urban settings, creating sustainable, beautiful buildings of all kinds with thoughtful public spaces for local people to be proud of.

“We are London specialists and are excited to have this opportunity to open up this corner of Barnet to new residents and businesses whilst bringing our customary flair to an area that we know well.”

Arron Taggart, Head of UK Real Estate at Cheyne Capital, said: 

“We are pleased to be supporting this redevelopment scheme which reaffirms our investment thesis of originating lending opportunities in value-add assets in partnership with experienced borrowers with whom we can form a long-term relationship.

“Our continued support of the Regal London platform underscores our conviction in their ability to deliver quality mixed-use schemes in London which look to support and benefit the local communities, and this is evidenced by the Great North Leisure Park redevelopment. Projects such as this which, if done right, will have a hugely positive effect on the local community, we find particularly of interest. We know that, in Regal London, we have the right partner and we look forward to furthering the strong relationship we have built with them.

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Jonathan joined Regal London in 2016 as a Non-Executive Director and was appointed Managing Director in January 2017 before assuming the role of Chief Executive Officer in July 2020. Prior to joining Regal London full time, Jonathan spent 25 years’ working in law, corporate finance, publicly listed funds and private equity. Jonathan is both a member of Regal London’s Executive Committee and Management Committee.