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19/03/2018
19/03/2018
Planning permission and development funding secured on LBS’ Hackney Road project

LBS Properties has been working with leading architects Hawkins Brown on securing planning consent for the redevelopment of the disused Mecca Bingo Hall on Hackney Road. In late 2017, the London Borough of Hackney granted planning consent for redevelopment to provide 83 apartments, flexible B1 workspace and a landscaped gardens on the 5th floor podium.

Situated just 300 metres from Hoxton Overground Station and a short walk from Columbia Road Flower Market, Haggerston Park and Broadway Market, the site enjoys a sought after position between Shoreditch, Hackney and London Fields. There are a wealth of popular bars, restaurants and amenities in the immediate area, along with the key employment and transport hub of Old Street Roundabout to south.

LBS Properties has also secured a £47 million senior development debt facility from real estate investment managers, Quadrant Real Estate Advisors. Nick Crawford, Managing Director of LBS Properties, comments: “We are delighted to be working with Quadrant to deliver this high-quality, mixed-use development in one of London’s most sought after areas.  The striking architecture, bespoke interior design and extensive landscaped roof gardens will combine to create a market-leading development, set on the doorstep of all the amenities of Shoreditch and Hoxton.”

Kurt Wright, CEO of Quadrant Real Estate Advisors LLC, comments: “Quadrant is pleased to facilitate funding of the Hoxton Development. LBS Properties is a highly skilled developer and we are proud to be part of this project.”

The development is due to complete in 2020.

 

 

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