Barwood Development Securities launches £15m property fund
Northampton-based Barwood Development Securities has set up a £15m fund to focus on promoting unallocated land through the planning process for residential development.
The property developer and investor, which is a joint venture between Barwood and Development Securities, has launched the fund with a client of Aberdeen Asset Management.
Several sites have already been secured into the fund, which is actively seeking further opportunities throughout the UK.
Barwood will consider a range of opportunities, from small, stand-alone sites to major urban extensions and mixed-use developments.
The company said opportunities can be structured by way of joint ventures with landowners; outright purchase of freeholds, with or without an uplift provision; and with an option to purchase subject to planning.
Managing director Jamie Gibbins said: "We are delighted that Aberdeen Asset Management has recognised the fantastic opportunity to achieve strong returns from deliverable and sustainable land planning opportunities in the medium term."
