Regal London and Cheyne Capital Management have acquired Great North Leisure Park, an 11.2 acre site on High Road, North Finchley in the London Borough of Barnet.
Bordering on Glebelands Open Space, the retail park is earmarked by Barnet as a strategic site for residential-led redevelopment.
Great North Leisure Park will also house the third Regal London Real Estate Academy. The first Academy was launched in Watford in 2022 with the second in Brent earlier this year.
Local people in each borough in which the developer is active can access a local Regal London Real Estate Academy delivered in partnership with Building Heroes. Each Academy provides construction qualifications and routes to employment for 70 military veterans and their families, and for those who may find it challenging to get ahead in life.
Jonathan Seal, CEO of Regal London said: “The acquisition of Great North Leisure Park is another step in the evolution of our strategy – to bring our expertise and skills to complex urban settings, creating sustainable, beautiful buildings of all kinds with thoughtful public spaces for local people to be proud of.
“We are London specialists and are excited to have this opportunity to open up this corner of Barnet to new residents and businesses whilst bringing our customary flair to an area that we know well.”
Arron Taggart, Head of UK Real Estate at Cheyne Capital, said: “We are pleased to be supporting this redevelopment scheme which reaffirms our investment thesis of originating lending opportunities in value-add assets in partnership with experienced borrowers with whom we can form a long-term relationship.
“Our continued support of the Regal London platform underscores our conviction in their ability to deliver quality mixed-use schemes in London which look to support and benefit the local communities, and this is evidenced by the Great North Leisure Park redevelopment. Projects such as this which, if done right, will have a hugely positive effect on the local community, we find particularly of interest. We know that, in Regal London, we have the right partner and we look forward to furthering the strong relationship we have built with them.