New London housebuilder begins £30m scheme in Wimbledon
New £100m London-based housebuilder London Square has begun work on its first development site since launching last summer.
The organisation, which is led by two former directors of Barratt, has bought a site in Wimbledon village for a 10-home detached and semi-detached development worth about £30m.
London Square is backed with £100m funding from private equity group Graphite Capital and has an aim to be building 600 homes a year within five years. Its chief executive is Adam Lawrence, chairman of Barratt London until 2010, and its chair is Mark Pain, finance director at Barratt until 2009.
It has also secured the services of the former executive chairman of Fairview, Stephen Casey, on it board.
London Square is building the scheme out in joint venture with Spencer Phoenix, and said it will be the first of a number of sites to begin construction in 2011.
Adam Lawrence said: “Wimbledon Village sums up what London Square is all about – building on prime sites in outstanding locations within the M25, where there is significant, pent-up demand for new homes.”