ICG Real Estate, the property arm of global alternative asset manager ICG, said the funding will support the acquisition and construction of two residential buildings on a 0.93-acre site in north-west London. The facility marks the third transaction between ICG's Real Estate Credit business and Arada London; ICG previously financed two London projects for Regal before its acquisition by Arada, which specialises in large-scale, sustainable lifestyle communities.

The consented plans include a 25-storey tower with 172 private for-sale homes and extensive amenities such as a concierge, gym, pool, golf simulator and co-working space. A separate 5–7 storey block will provide 79 affordable homes, all for social rent, together with three retail units. Construction is already under way.

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Due to complete in autumn 2028, the development sits within a newly upgraded public square immediately adjacent to Swiss Cottage Underground Station, and close to the Hampstead Theatre and Swiss Cottage Leisure Centre.

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."