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