Bentry Capital has unveiled a £500 million portfolio of residential schemes across London, Liverpool and Salford with plans to secure a further 1,000 units over the next three years as it positions itself as a major player in the UK housing market.
The London-headquartered investor-developer, which has incorporated Mellior Group as its in-house contractor, currently has more than 1,200 units in development across four main schemes, with further sites in the pipeline.
Projects include two commercial-to-residential conversions in London’s Islington and Hammersmith and two newbuild schemes in Liverpool and Salford.
The group is targeting acquisitions in London’s Zone 1 and 2, priced between £1,000 and £2,000 per square foot, and in key regional university cities such as Birmingham, Sheffield, Leeds and Manchester. It is focusing on regeneration areas with large brownfield sites, aiming to deliver what it describes as “design-led homes” for both owner-occupiers and investors.
ANGEL VILLAGE
In Islington, the £80 million Angel Village scheme will deliver 130 apartments with landscaped gardens and amenities including a concierge, gym and business suite.
In Hammersmith, Charlotte Terrace, a £27 million conversion of a Georgian terrace, will provide 36 apartments behind a retained Grade II-listed façade, subject to planning approval.
In Liverpool’s Islington Quarter, Abbey Row (main image) is a £87 million scheme of 365 apartments with retail space and lifestyle facilities.
Meanwhile in Salford, the £29 million Willow Court development of 119 apartments is nearing completion, with more than 70% of homes already sold. Prices start at £260,000, and yields of up to 14% are being achieved on short-term lets, according to the company.
EXORBITANT SERVICE CHARGES
David Ronson, Bentry’s National Sales and Marketing Director, says many London developers “overextend amenities at their schemes and burden the buyers with exorbitant service charges”, while in the north “too many developers overpromise with glitzy CGIs and then fail to see a project through”.
He adds that Bentry aims to deliver competitively priced homes for both owner-occupiers and investors.
DEVELOPMENT MILESTONE
Amarveer Singh Pannu, Co-founder and Director, says the company was focused on growth in “key London zones and across select regional cities”, while fellow Co-founder Jazz Singh Gill highlights the nearing completion of Willow Court as a milestone.
David Cain, Chief Development officer, says the incorporation of Mellior Group as in-house contractor means the company can deliver schemes in “areas seeing huge demand and supply imbalances”.
Bentry’s expansion comes amid rising pressure on the UK housing market, where demand continues to outstrip supply in both the capital and major regional centres.
