ICG Real Estate has confirmed a £152 million loan to Arada London to fund a significant new housing development in North West London. The financing will support the purchase and construction of two buildings at 100 Avenue Road in Swiss Cottage. This agreement represents the third deal between the real estate arm of ICG and Arada London. It follows previous funding provided by ICG for London projects that Arada later acquired.

The 0.93-acre site has planning permission for two distinct structures. The first is a 25-storey tower featuring 172 private units for sale. Residents in this building will have access to amenities such as a swimming pool, a gym, a concierge service and a golf simulator. The second building will stand between five and seven storeys high. This block will provide 79 affordable homes for social rent and three retail units on the ground floor.

Work has already started on the site which sits next to Swiss Cottage Underground Station. The location is near Hampstead Theatre and the local leisure centre. Completion of the entire project is expected by autumn 2028. Arada London is the British branch of the UAE developer Arada which focuses on sustainable lifestyle projects.

Jai Patel, Managing Director at ICG Real Estate, commented: “Arada London has an impressive track record of delivering large-scale, landmark developments across the city of London and we are delighted to be collaborating with them on our third transaction together. The development is strategically located in Swiss Cottage, which has a global reputation for being a highly desirable residential area with excellent transport links and easy access to Hampstead Heath, Regent’s Park and several of London’s top schools. This scheme will deliver an attractive turnkey product into a highly supply-constrained submarket, alongside a significant affordable housing provision that will serve both domestic and international residents.”

Marc Eden, Investment Director, Arada London, commented: “ICG Real Estate combines disciplined underwriting with a strong understanding of how residential projects are delivered in practice, from start to finish. At 100 Avenue Road, the ICG team proved that they share Arada London’s clear focus on quality, sustainability and long-term value, alongside the delivery of critical affordable housing. We are pleased to be working together again to bring forward a high-quality scheme in a well-connected part of London.”