London Square

In April 2010 Graphite Capital committed £50 million of equity to support the development of London Square, a new London-focused house builder.

London Square was established to develop residential housing within Greater London. The company acquires land, obtains planning permission for development, builds and sells the housing units. Graphite appointed a highly experienced CEO with an extensive and successful track record of residential housebuilding in London. The business was formed at a cyclical low without legacy developments, so it was well placed to exploit the unique opportunities available in London.

London Square attracted a high-quality, market-leading operational team. The company has acquired over ten sites across London in attractive locations with good transport links and strong demand for new houses and apartments priced in the £0.2 million to £4.0 million range.

Key Business Achievements

Attracted a high-quality, market-leading management team with extensive experience of developing residential housing in London

Completed and sold three developments which consisted of 116 units and generated £84 million of cash proceeds

Commenced developments on a further six sites with over 230 units, expected to generate over £250 million of sales proceeds

Created a land bank of future developments with over 850 units expected to generate over £650 million of sales proceeds

Secured a revolving credit debt facility to leverage equity and enhance returns

£129 m

Exit Value

Business Exit

In 2014 London Square was sold to Ares Management, generating a money multiple of 2.0 times cost.