Ingenious completes low-carbon development deal in Southend-on-Sea

• The development will consist of twenty-two 1, 2 and 3-bed residential units on a brownfield site
• Represents first fully modular construction funded by Ingenious
• Modular construction reduces construction time, site waste, and the use of carbon-intensive materials like concrete

London, UK – Ingenious Real Estate today announces the completion of a new loan to support the development of a low-carbon modular residential scheme on Sutton Road in Southend-on-Sea, with a 69% LTGDV.  The borrower is part of QB Technology, a UK-based innovative modular construction company that uses modern methods of construction and advanced digital tools to produce highly-engineered modular building systems off-site.

The apartments will benefit from private balconies, undercroft parking and cycle storage. Each unit uses light gauge steel frames the size of shipping containers which are fitted out on an assembly line at QB Technology’s factory in West Sussex. Completed units are then delivered to the site where they will be connected together. This will decrease site waste and increase efficiencies by reducing construction time due to disruption from inclement weather.

The scheme will reduce carbon output both during development and once in use. The modular construction will decrease the use of carbon-intensive materials such as concrete, and produce homes with greater airtightness, large windows, and solar shading to minimise heating requirements. The development will use a PV solar panel array to supply over 10% of the building’s electricity.

Ingenious has funded schemes which use pre-fabricated panels before,  such as a loan facility with property developer, Citu, to fund 120 units at the Climate Innovation District in Leeds. It has also funded low-carbon schemes such as The How in Cambridgeshire, a development of 19 sustainably built, energy-efficient houses.

Most recently, the firm has agreed a bridging loan against an asset in South West London; a £26m loan financing deal to support the development of a mixed-use scheme in East Ham, London; and an industrial development facility to fund the 48 industrial units near Poole.

We are delighted to have supported the development of an innovative low-carbon focussed site, providing sustainable homes with lower operating costs for buyers. This deal complements our growing portfolio of low-carbon developments and we’re proud to continue providing flexible financing solutions for sustainable projects while maintaining our commitment to our investors. Low operating cost homes have never been more vital for buyers, and we will continue to source exciting new low-carbon focussed developments in the coming months.

Tom Brown

Managing Director of Real Estate at Ingenious

About Ingenious Real Estate

Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £600 million worth of transactions. The current portfolio balance is weighted towards residential.

ENDS

Notes to Editors

For more information, please contact:

Jamie Brownlee / Thomas Lodge / Gabriela Sarosiek

Greentarget (for Ingenious)

+44 20 3963 1889

ingenious@greentarget.co.uk

This document is a press release for information only and is not to be distributed to retail clients. Ingenious is a trading name of Ingenious Capital Management Limited, which is authorised and regulated by the Financial Conduct Authority under Firm’s Reference Number 562563.

Registered Address:  15 Golden Square, London, W1F 9JG, United Kingdom.