Social and economic benefits: Epsom property development

16/6/23
5 min
Property finance
Case study

Why did we lend: 

We are seeing a growing number of attractive opportunities to provide funding to SME UK property developers, despite tough macro conditions and a competitive market. This unique deal addresses the acute regional housing undersupply, while supporting the creation of resilient communities and restoring important local heritage.

About the area/developer:  

The project provides development finance towards the redevelopment of a horse training yard in Epsom, and the building of residential housing which will provide multiple long-term community benefits. The existing owners, South Hatch Surrey, combined with Proseed Property and Coranado to complete the development, supported by the Downing property finance team.  

About the deal:

The Epsom deal demonstrates our commitment to supporting SME developers and providing flexible and innovative financing. This multi-purpose development encompasses the redevelopment of equestrian facilities and residential property development in a £12.9 million deal.  The scheme will include the building of 12 one-bed and 30 two-bed flats, as well as the redevelopment of a successful horse training yard.  

The site is currently the racehorse training ground for well-known trainer Jim Boyle. Jim has worked with a project team since 2015 to secure planning for this redevelopment. The project encompasses a new state-of-the-art racehorse training establishment with accommodation for trainers and staff.   

The development also provides additional benefits for the community. By updating the racehorse training facility, Epsom’s local economy will receive a boost, an important aspect for an area that holds significant horse racing heritage. The project will also provide a source of sustainable employment for the local community.  

Downing’s value-add:

  • Addresses the acute UK housing shortfall by supporting the delivery of residential-led housing schemes  
  • Builds more resilient communities by supporting important local infrastructure and preserving heritage
  • Promotes the local economy and develops long-term growth opportunities
  • Creates sustainable employment and a sporting outlet
  • Allows investors to benefit from debt investment secured against property development projects by targeting attractive yield through a “safety-first” lens, and focusing on relationship-based sourcing while working with experienced counterparties

Find out more about Downing's Property Finance team

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Why did we lend: 

We are seeing a growing number of attractive opportunities to provide funding to SME UK property developers, despite tough macro conditions and a competitive market. This unique deal addresses the acute regional housing undersupply, while supporting the creation of resilient communities and restoring important local heritage.

About the area/developer:  

The project provides development finance towards the redevelopment of a horse training yard in Epsom, and the building of residential housing which will provide multiple long-term community benefits. The existing owners, South Hatch Surrey, combined with Proseed Property and Coranado to complete the development, supported by the Downing property finance team.  

About the deal:

The Epsom deal demonstrates our commitment to supporting SME developers and providing flexible and innovative financing. This multi-purpose development encompasses the redevelopment of equestrian facilities and residential property development in a £12.9 million deal.  The scheme will include the building of 12 one-bed and 30 two-bed flats, as well as the redevelopment of a successful horse training yard.  

The site is currently the racehorse training ground for well-known trainer Jim Boyle. Jim has worked with a project team since 2015 to secure planning for this redevelopment. The project encompasses a new state-of-the-art racehorse training establishment with accommodation for trainers and staff.   

The development also provides additional benefits for the community. By updating the racehorse training facility, Epsom’s local economy will receive a boost, an important aspect for an area that holds significant horse racing heritage. The project will also provide a source of sustainable employment for the local community.  

Downing’s value-add:

  • Addresses the acute UK housing shortfall by supporting the delivery of residential-led housing schemes  
  • Builds more resilient communities by supporting important local infrastructure and preserving heritage
  • Promotes the local economy and develops long-term growth opportunities
  • Creates sustainable employment and a sporting outlet
  • Allows investors to benefit from debt investment secured against property development projects by targeting attractive yield through a “safety-first” lens, and focusing on relationship-based sourcing while working with experienced counterparties

Find out more about Downing's Property Finance team

We are delighted to announce that Mark Gross, Partner and Head of Development Capital, has been named Equity Investor of the year at the HealthInvestor Power List 2024 Awards.

Following Mark’s achievement last year when he won the “Leading Investor” award at HealthInvestor’s Power50, this year’s win further highlights his continued success and expertise in investing across the healthcare sector. 

The judges praised Mark for finding success both in value and volume this year, delivering good returns and growth. They were impressed by how Mark has continued to strengthen a strong track record with further growth in the team and new funds securing further backing. We extend our thanks to Mark and the Downing Development Capital team for their continued dedication and support in expanding our healthcare investment activities with a focus on quality, performance and reputation. 

Congratulations Mark!

Development Capital  

Downing Development Capital is an award-winning investor focused on investment opportunities into asset-backed operating businesses with downside protection. Typical sectors they invest in include healthcare, specialist education, hospitality, leisure and IT infrastructure.

Learn more about our Development Capital team

Why did we lend: 

We are seeing a growing number of attractive opportunities to provide funding to SME UK property developers, despite tough macro conditions and a competitive market. This unique deal addresses the acute regional housing undersupply, while supporting the creation of resilient communities and restoring important local heritage.

About the area/developer:  

The project provides development finance towards the redevelopment of a horse training yard in Epsom, and the building of residential housing which will provide multiple long-term community benefits. The existing owners, South Hatch Surrey, combined with Proseed Property and Coranado to complete the development, supported by the Downing property finance team.  

About the deal:

The Epsom deal demonstrates our commitment to supporting SME developers and providing flexible and innovative financing. This multi-purpose development encompasses the redevelopment of equestrian facilities and residential property development in a £12.9 million deal.  The scheme will include the building of 12 one-bed and 30 two-bed flats, as well as the redevelopment of a successful horse training yard.  

The site is currently the racehorse training ground for well-known trainer Jim Boyle. Jim has worked with a project team since 2015 to secure planning for this redevelopment. The project encompasses a new state-of-the-art racehorse training establishment with accommodation for trainers and staff.   

The development also provides additional benefits for the community. By updating the racehorse training facility, Epsom’s local economy will receive a boost, an important aspect for an area that holds significant horse racing heritage. The project will also provide a source of sustainable employment for the local community.  

Downing’s value-add:

  • Addresses the acute UK housing shortfall by supporting the delivery of residential-led housing schemes  
  • Builds more resilient communities by supporting important local infrastructure and preserving heritage
  • Promotes the local economy and develops long-term growth opportunities
  • Creates sustainable employment and a sporting outlet
  • Allows investors to benefit from debt investment secured against property development projects by targeting attractive yield through a “safety-first” lens, and focusing on relationship-based sourcing while working with experienced counterparties

Find out more about Downing's Property Finance team

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Torsten Mack, Investment Director at Downing, said:

"We are proud to support this exceptional management team, whose strong track record positions them well to build a new business in dementia care. This needs-based sector is underpinned by a lack of quality supply and we are investing in Fortava Healthcare to set and deliver high standards, and to help make a difference."

Johann van Zyl, CEO at Fortava, added:

"I’m thrilled to be working with Jamie, as we share the same values. We plan to grow Fortava into a leading provider of dementia care over the next five to seven years. But growth isn’t our primary focus—our goal is to deliver outstanding care and foster a joyful, supportive environment for both residents and staff. We’re delighted to be partnering with Downing who also share our values and we look forward to this journey with them."

Jamie Stuart, CFO at Fortava, commented:

“For me, it's about being more than just another care home provider. While dementia care in the UK is generally of a good standard, we want to set ourselves apart with a fresh approach. That’s why, after over 25 years in banking, I chose to partner with Johann and Downing on this venture.”

Why did we lend: 

We are seeing a growing number of attractive opportunities to provide funding to SME UK property developers, despite tough macro conditions and a competitive market. This unique deal addresses the acute regional housing undersupply, while supporting the creation of resilient communities and restoring important local heritage.

About the area/developer:  

The project provides development finance towards the redevelopment of a horse training yard in Epsom, and the building of residential housing which will provide multiple long-term community benefits. The existing owners, South Hatch Surrey, combined with Proseed Property and Coranado to complete the development, supported by the Downing property finance team.  

About the deal:

The Epsom deal demonstrates our commitment to supporting SME developers and providing flexible and innovative financing. This multi-purpose development encompasses the redevelopment of equestrian facilities and residential property development in a £12.9 million deal.  The scheme will include the building of 12 one-bed and 30 two-bed flats, as well as the redevelopment of a successful horse training yard.  

The site is currently the racehorse training ground for well-known trainer Jim Boyle. Jim has worked with a project team since 2015 to secure planning for this redevelopment. The project encompasses a new state-of-the-art racehorse training establishment with accommodation for trainers and staff.   

The development also provides additional benefits for the community. By updating the racehorse training facility, Epsom’s local economy will receive a boost, an important aspect for an area that holds significant horse racing heritage. The project will also provide a source of sustainable employment for the local community.  

Downing’s value-add:

  • Addresses the acute UK housing shortfall by supporting the delivery of residential-led housing schemes  
  • Builds more resilient communities by supporting important local infrastructure and preserving heritage
  • Promotes the local economy and develops long-term growth opportunities
  • Creates sustainable employment and a sporting outlet
  • Allows investors to benefit from debt investment secured against property development projects by targeting attractive yield through a “safety-first” lens, and focusing on relationship-based sourcing while working with experienced counterparties

Find out more about Downing's Property Finance team

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Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: Downing, 10 Lower Thames Street, London, EC3R 6AF.

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