Blackmore pens first residential deal in capital

Investment company The Blackmore Group has sealed its first residential deal in London as it steps up its national expansion strategy.

The Manchester-based group has bought a block of 20 apartments in revitalised Stratford, East London.

Fusion Court on Leytonstone Road has been acquired from Kent-based developer Featherstone Homes, which completed the scheme earlier this year.

The site has a gross development value of £8.3m and has been acquired by the Blackmore Bond, which the group launched last year. The bond offers investors a fixed return over a term of four or five years.

Fusion Court is near Maryland rail station, which is to be refurbished ahead of the opening of Crossrail’s new Elizabeth Line next year.

The block is also close to Stratford International station, Stratford High Street Docklands Light Railway station and the Westfield Stratford City shopping centre.

Stratford has been rejuvenated since it hosted the 2012 Olympic and Paralympic Games.
Patrick McCreesh, managing director of The Blackmore Group, said: “We’re pleased to have completed on this pivotal acquisition for the Blackmore Bond, which marks our first residential investment in the Greater London area.

“We’re targeting more key locations for investment on commuter routes into central London and are in advanced negotiations over a number of sites.

“The apartments in Fusion Court are fitted out to a high specification and each has a balcony.

“They offer people an excellent standard of living as well as first-class travel links into central London and beyond, and we expect to see high demand for them when they go on the market in the near future.”

The Blackmore Group was advised on the deal by BNP Paribas Real Estate, whose homes team will market the apartments for sale.

Blackmore schemes currently under way in the North West include the transformation of St Augustine’s Church in Cheadle Heath, Stockport, into nine apartments, and the construction of 54 homes on the banks of Alston Reservoir at Longridge near Preston.