Home > Alerts > Switzerland > Swiss Finance & Property Corporation forms joint venture partnership with Redevco UK
17 February 2023
Swiss Finance & Property Corporation publishes on its website:
The aim of the newly founded partnership is to work together on the British real estate market over the next few years. The investment vehicles established by SFP Group will raise 90% of the equity of the joint venture, while Redevco will hold a 10% stake.
The strategy of the new partnership is centered around converting undervalued traditional commercial properties into residential and mixed use, bringing positive benefits to local communities. Against this background, investments are to be made in Great Britain’s fastest-growing regional centers so that the apartments that are urgently needed on the British rental market are built. The first project is in the Finnieston area of Glasgow.
Two like-minded companies with complementary skills are working together as part of this solution-oriented approach, which is aimed at the increasingly important “build-to-rent” sector. SFP Group’s head office in Zurich will be responsible for raising capital, while SFP UK will provide day-to-day analysis, research, reporting and representative functions primarily related to the UK. This will be done in conjunction with local partner Redevco who will focus on asset and development management of the selected UK programmes.
Redevco has an extensive track record of major refurbishment projects in the UK and Europe. Meanwhile, the SFP Group, which is one of the largest independent real estate asset managers in Switzerland, wants to build on its previous successes in the European residential construction sector with its newly founded British subsidiary.
Patrick Brenninkmeijer, Redevco’s Business Development Director, concludes: “We are delighted to have found a like-minded partner in the SFP Group and enjoy working closely with the SFP UK team who will help cities in the UK transform improves sustainability and quality of life.» Philipp Braunwalder, CEO of SFP UK, adds: “The speed with which we partnered with Redevco and finalized our first transaction in Glasgow underscores the strong team spirit of this joint venture. We are very much looking forward to continuing on this path.”
The SFP Group and Redevco are united by the common goal of increasing ecological and social benefits and helping European cities to make quality of life, work and leisure more sustainable and worth living in. The particular focus of this joint venture is to alleviate the housing crisis in the UK, a problem affecting many UK cities, through the development of sustainably designed communities.Source: Swiss Finance & Property Corporation
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