Whitedrake was instructed by this leading Housing Association to advise on the forward sale of the Limehouse development in London E14. This involved the sale of 49 apartments in two Blocks. The core challenge presented by the client was that the apartments had already been widely marketed, which had negatively impacted their reputation and perceived value in the market. Our Client required a swift and discreet resolution to secure a buyer and finalise the transaction.
Market Exposure & Reputation Damage: The apartments had been “well marketed” prior to diminishing their appeal and making it difficult to attract serious institutional investors. This created a perception issue that needed to be overcome.
Urgency for Resolution: Our Client was keen to finalise the deal quickly due to the significant holding costs.
Discreet Transaction: Given the prior over-exposure, the client needed a solution that was efficient and executed without further public market noise.
Whitedrake cultivates and maintains long-standing relationships with an extensive network of institutional investors. This provides us with intimate knowledge of which funds are actively deploying capital and precisely what their investment criteria are. We’re also directly informed when funds are raising new capital, giving us an advantage before the wider market is aware.
As with all our instructions, we only accepted the mandate for Limehouse with immediate knowledge of at least two ideal funds for this specific asset. We then initiated and led rapid, focused negotiations with these shortlisted parties within 48 hours of instruction.
Within two months, Whitedrake successfully negotiated and secured terms agreed and signed with the Purchaser. The legal completion of the forward purchase then followed swiftly, concluding the deal in an impressive 10 weeks from the terms being signed.
The transaction involved the acquisition of: 49 apartments and Head lease of Blocks A & B (91 apartments)
Whitedrake’s unparalleled market insight and ability to identify precisely the right purchasers were critical to the success of the Limehouse deal. By leveraging our market knowledge of active funds, we were able to overcome the significant challenge of prior market over-exposure. We performed where others could not, securing a quick, efficient, and successful forward purchase for our Client, who expressed immense gratitude for our swift and effective delivery. This case exemplifies Whitedrake’s capability to deliver exceptional results even in challenging circumstances.