22 Jan Landvest Enter into a Joint Venture with Fusion Residential
Luxury design house Fusion, famed for the development of beautifully bespoke residences has entered into a new separate joint venture vehicle with burgeoning Landvest Developments, which will see both companies embark on an ambitious acquisition programme to secure new large scale opportunities within London and the Home Counties.
Landvest Developments Limited are a bespoke, niche property company specialising in land acquisitions. Fusion Residential is a boutique, award winning developer, project manager and design house, creating exceptional residences in the most exclusive locations around London.
Landvest and Fusion have already concluded several deals together over the past 18 months and this new joint venture vehicle will offer land owners a very strong covenant with an established track record. Both Fusion and Landvest will still continue to acquire sites individually, however specific opportunities which meet certain criteria will be acquired by the new joint venture vehicle.
The Fusion group portfolio currently stands at over £500m of gross development value and significant funds have been committed to this new venture that will result in the portfolio growing rapidly over the next few years. To date the new joint venture vehicle has already delivered planning permission on several residential development opportunities that amount to a GDV of in excess of £30m and has a further £70m of GDV agreed and in the pipeline. All of the sites are located in affluent, desirable locations across the South East.
The Landvest team has occupied ground floor space within Fusion’s design studio in Letchmore Heath, Hertfordshire and the two companies will combine their expertise on selected projects that will form part of the new vehicle.