Oakapple developers sell £20m London site
LEEDS-BASED Oakapple Group has sold its £20m mixed-use scheme which is currently being built in Clapham.
An institutional investor has now purchased the 10,000 sq ft grade A office complex, which has been pre-let to global lift and escalator company, Kone plc.
The deals have been delivered by Leeds-based Oakapple’s development director Sean Mayes, and construction is now well underway on site under the direction of development manager Jason Papprill, with completion expected early 2016.
Chairman of Oakapple Group, Philip Taylor said: “We launched the scheme onto the property market in London at a great time.
“The two and three bedroom apartments were quickly snapped up off-plan even before we had started the demolition work on site.
“Having re-financed the site with Julian Hodge Bank in Cardiff, when the property market was on its knees, it has turned out extremely well for both Oakapple and the bank, given that the development is now 100% pre-sold.
“All we have to do now is finish building it with our construction partner Marbank Construction.”
Oakapple’s pipeline includes 100,000 sq ft of grade A office space on Sweet Street in Leeds city centre.
