Aldgate Residential Development

Asset Description

WMG has purchased a Brownfield development site in Whitechapel with planning permission to develop a 17 storey, residential tower with 39 apartments and commercial units on the ground floor, with a forecast GDV of £28m. The scheme has the possibility of adding 3 extra flats.

The site is located right on the City fringe, within walking distance to Shoreditch, Royal London Hospital and St. Katherine’s Dock and adjacent to a new Crossrail and Underground station.

Investment Overview

WMG has acquired the site and subsequently made amendments to the existing planning consent to alter the mix of the units, converting the play space to additional private and affordable units, thus enhancing the overall value of the scheme.

WMG has engaged with a number of buyers for the pre-sale of the residential units as well as housing associations for the affordable units. WMG have secured a fixed price, fixed term contract for the build.

WMG intends to return a forecast 21% IRR to equity investors within 30 months.


Investment Profile


Base Case

Total Site Cost 10,209
Total Development Cost


Debt 14,400
Equity 7,980

Area Map


Return Profile


Base Case

Gross Profit 3,954
Gross Multiple


IRR 21%
NET Multiple after tax 1.40x