Brockton/Citic/Cindat – Mayfair Residential Development – Greater London - Project Profile
"Brockton/Citic/Cindat – Mayfair Residential Development – Greater London - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Brockton Capital (Brockton) in joint venture with Citic Capital(Citic) and Cindat Capital Management(Cindat) are undertaking the construction of Mayfair Residential Development project in London, the UK.
The project involves the construction of a residential facility comprising 32 apartments. It includes the construction of a Marco Pierre White’s Mirabelle restaurant, south facing garden, four underground levels including light filled spa, a gym, an underground parking facility, a swimming pool and other related facilities, and the installation of elevators, safety and security systems.
In July 2012, PLP Architecture was appointed as an architect for the project. Savills has been appointed as the marketing consultant for the project.
In November 2012, Brockton submitted planning application to the Westminster City Council. Subsequently, received in-principle approval.
In December 2015, Citic Capital and Cindat Capital Management have together bought a 70% stake of the project for a value of US$300 million. Brockton will oversee development of the project. The joint venture allows the investors in the Brockton to continue participating in an investment that has involved assembling the site, buying-in the freehold and obtaining planning consent.
Developers secured debt financing from Deutsche Bank, Bank of China and United Overseas Bank for the development of the project while an investment fund managed by an affiliate of Apollo Global Management, will provide the mezzanine tranche.
Nabarro has beeen appointed to advise Brockton Capital, KWM to advise Cindat on the structuring of the Joint Venture. The senior lenders, Deutsche Bank, Bank of China and United Overseas Bank are advised by Clifford Chance and Apollo was advised by Allen & Overy.
Planning activities are underway. Construction works are scheduled to be completed by 2018.
The project involves the construction of a residential facility comprising 32 apartments in London, the UK.
The US$866 million project includes the following:
1. Construction of south facing garden
2.Construction of a Marco Pierre White’s Mirabelle restaurant and light filled spa
3. Construction of underground gym
4. Construction of underground parking facility
5. Construction of swimming pool
6. Installation of elevators
7. Installation of safety and security systemsReasons To Buy