Europa Capital and St Congar Land create new residential land Joint Venture
Tuesday, February, 09, 2010
Europa Capital has backed St Congar Land Limited to create a joint venture (JV) to acquire and promote residential and mixed use land predominantly across Southern England. The JV will have an initial capacity to acquire, either directly or with other joint venture partners, over £20 million of assets.
It will acquire land at various stages in the planning process and look to further the planning status in order to maximise value.
Noel Manns, Principal of Europa Capital, said “This is an exciting opportunity to joint venture with an experienced partner and to create value through the selective purchase and active promotion of land through local development frameworks. We believe in the long term fundamentals of the residential land market and look to create ‘oven-ready’ development sites to meet future demand.”
Miff Chichester, CEO of St Congar Land, added “We are delighted to have had the opportunity to establish another joint venture with Europa Capital. We believe the time is right in the property cycle to buy and fund land promotion projects. We are already seeing a number of interesting opportunities and look forward to making our first investment in the near future".
Geoff Tipping, Director of Higham-lane Properties and previously London and Edinburgh Trust, is to act as a consultant to the joint venture.
For further information, please contact:
Gordon Simpson, Finsbury PR +44 20 7251 3801
Noel Manns, Europa Capital Partners +44 20 7881 6800
Miff Chichester, St Congar Land Limited + 44 20 7569 5346
Notes to editors:
Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital’s Principals have collectively raised 6 real estate funds and committed to over 60 transactions totalling some €6.0 billion, across 17 European countries.
Europa Capital raised two new investment funds for European property investment in 2008 being Europa Fund III and Europa Emerging Europe, which invests in Eastern Europe. Together, these funds give Europa Capital €895 million of additional equity to invest.
The Europa Funds benefit from Europa Capital’s network of exclusive Country Partners, who co-invest in acquisitions made by the Europa Funds in their territory. Many of the Country Partners have worked closely with the Principals of Europa Capital during the last 20 years. Further information can be found at www.europacapital.com.
About St Congar Land Limited
St Congar Land Limited was established by Miff Chichester to run the acquisition and asset management of the land platform. This new venture compliments his other Joint Venture vehicle with Europa Capital, St Congar Properties Ltd, which has been acquiring and developing mixed use opportunities since 2003, notably Imperial House, Alma Road, Windsor and Imperial Place, Borehamwood.
For further press information please contact:
Finsbury PR on +44 (0) 20 7251 3801
