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Tellon Capital secures £139million forward fund of its 519-apartment BTR development in Southampton

19 11 21 Tellon Capital secures 139million for 519 BTR development hero

Tellon Capital has secured the sale and forward funding of its Bargate Quarter build to rent scheme in Southampton for £139million in a deal with Legal & General arranged by Colliers.

The site is located in the historic quarter of Southampton’s city centre overlooking the castle and city walls and will deliver 519 apartments alongside 9,120 sq ft of resident amenities and 2,515 sq m of commercial space. In response to the pandemic, planning consent was amended earlier this year to reflect the new ways that people live, work and socialise. 

James Burchell, partner at Tellon Capital, said: “We are delighted with our new partnership with Legal & General and to start work on the Bargate Quarter rejuvenation. Once this scheme is completed, we believe this will provide an exciting new chapter for one of the most historic parts of Southampton.

“Our development will seek to improve the setting of The Bargate and city walls and provide retail units along with much-needed new housing in a highly sustainable location. Crucially, our scheme also responds to the changing world created by the pandemic, to ensure we have a scheme that respects the past but is also fit for the future.”

Erica D’Souza, associate director in the Build to Rent team at Colliers added: “Southampton continues to draw investor interest because rental demand is running well ahead of the housing supply. Bargate Quarter will provide residents with great access to shops, restaurants and entertainment venues, which will be especially attractive to renters looking for a good work-life balance. 

“Significant efforts have been made to respect the site’s history while designing this development and creating a great place for people to live, play and socialise in the heart of Southampton.”

Tellon Capital expects the scheme to be completed by late 2024 or early 2025.

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Erica D'Souza

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Residential - Development

London - West End

Erica joined Colliers in 2018 and has a national remit as a specialist advisor for  Build-to-Rent (multifamily and PRS) developments. She is focussed on design consultancy, funding transactions  and exit options analysis.  

Prior to joining Colliers, Erica advised UHNWIs and family offices in London. During this time, she was involved in deal originations and also actively managed a value-add portfolio of prime residential assets across London (zones 1-2). 

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Kim Inam

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I'm a communications professional who has previously worked as a journalist for eight years covering a broad range of topics including politics, crime, health and housing in north London. In recent years I have worked in corporate communications for local authorities across London  and joined Colliers in October 2019, initially providing maternity leave cover.

I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, and work with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

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