UK regeneration projects: Investing using Islamic Finance Investing using Islamic Finance 01

Contents Foreword

Foreword from the PM 01 Britain is the capital of Islamic The projects, worth over Finance in the West. We were £17billion, are a win-win. They’re Investing in UK regeneration projects 03 the first country outside the a win for you because they help Islamic Finance in the UK 04 Islamic world to issue a you make a return, manage risk, government Sukuk. More than and do good with your money – Investment opportunities 05 50 of our institutions offer all within a financial framework Gatehouse PRS Residential Fund 06 advance training in the that suits you. And they’re a win principles of Islamic Finance, for Britain, too, because each of Place 07 reaching professionals from all these developments will bring over the world. We have a tax prosperity and opportunity to Mayfield, Manchester 08 system and other regulations every part of our country. Of Middlewood Locks, Manchester 09 that work with Islamic Finance course, each investor’s needs products. And we even provided are different, so I invite you to Alderley Park, Cheshire 10 export credits for the purchase explore with my team in UK Smithfield, 11 of aircraft using Islamic Finance Trade and Investment on how – the first in the world to do so. the projects can be made to Legal & General Regeneration partnership proposal 12 work for you. East of Orbital Route, Leeds 13 Look around and you will see how Islamic Finance has When it comes to Islamic Thorpe Park, Leeds 14 transformed the skyline, from Finance, Britain thinks big. Atlantic Gateway, -Manchester 15 to Chelsea Barracks. I don’t want us to just be the With the exciting plans for the Western hub; I want us to be a Old Oak Common 16 Battersea development, that global leader. That’s the goal. trend is set to continue. But our It will be an exciting journey, Centre for Advanced Knowledge Engineering 17 ambitions in this industry go far packed with opportunities – and Healthy Ageing Innovation Campus, Lancaster 18 beyond our capital city, as you I hope that you will be part of it. will see from the carefully- Stephenson Quarter, Newcastle 19 selected projects in this Park Hill, Phase 2, 20 brochure. It gives you a taste of the many opportunities that London Cancer Campus, Sutton, London 21 we think would be attractive to Rt. Hon. David Cameron MP Silvertown Quays, Royal Docks 22 investors using either Islamic Prime Minister or conventional finance – and Slough Town Centre 23 it’s the first brochure of its kind Contacts 25 from any G7 or EU country. 02 Investing using Islamic Finance Investing using Islamic Finance 03

Investing in UK regeneration projects

With a successful and robust The developments selected regime for delivering contribute to the regeneration investment in regeneration and renewal of UK towns and projects, the UK offers an cities with positive benefits to exciting range of opportunities social and cultural life. The for all investors, both continued prosperity of places Sharia-compliant and also relies on growth and traditional finance. Included in expansion, an ambition that is this book are projects sourced being met by increasing flows by the Regeneration Investment of international capital into UK Organisation (RIO) which are property investment, investable and ready for including from Sharia-compliant development, in line with its financing. mandate of helping international investors identify RIO has a wider pipeline of and fund regeneration £115bn (Gross Development opportunities in the UK. Value) of projects, further details of these projects are RIO achieves this by acting as available from RIO’s pages on a one-stop-shop and an ‘honest the UK government’s website: broker’ in directing international investors to a credible project www.gov.uk/ukti/rio pipeline. The projects identified have been presented in their totality - some parts of which may not be Sharia-compliant – but are at a stage that investors can contribute to discussions around project and finance structure with project promoters. RIO is ready to facilitate these introductions. 04 Investing using Islamic Finance Investing using Islamic Finance 05

Islamic Finance in the UK Investment opportunities

The United Kingdom’s We have hundreds of The UK’s Financial and Financial and Professional professionals working wholly Professional Services industry 1 Gatehouse PRS Residential Fund 06 Services industry is built on or partly on Islamic Finance has long experience of working openness – to ideas, to external products in the UK, ranging with investors from all parts 2 Manchester Place 07 developments, and to the needs from specialist consultancies, of the Muslim world, ensuring of its customers. Over several through to experts in divisions that all of its customers get the 3 Mayfield, Manchester 08 decades, the United Kingdom has of the largest firms. This depth support they need. And our supported the development of of expertise in both Islamic regulatory authorities are 4 Middlewood Locks, Manchester 09 the sector, by developing Finance and conventional focussed on facilitating such appropriate regulations. The products means that when business, while protecting 5 Alderley Park, Cheshire 10 issue of UK Government Sukuk investors do deals with UK customers and safeguarding in 2014 gave new life and added support, they do not need to systemic stability. 6 Smithfield, Birmingham 11 to the expertise in the UK’s compromise, either in their Financial & Professional beliefs or in getting the best This wealth of experience in 7 Legal & General Regeneration partnership proposal 12 Services industry. support available. the UK means that there is no better place in the world to get 8 East of Leeds Orbital Route, Leeds 13 We continue to innovate. In support in making 2015, Sharia-Compliant Islamic Finance deals, 9 Thorpe Park, Leeds 14 reinsurance will be offered whether for the projects in through Lloyd’s of London, this brochure or elsewhere in 10 Atlantic Gateway, Liverpool-Manchester 15 and the Bank of is the world. And the openness working on provision of and transparency in our Sharia-Compliant liquidity industry helps investors to 11 Old Oak Common 16 facilities. Where products are invest with confidence – they not yet available in are clear that their interests 12 Centre for Advanced Knowledge Engineering 17 compliant form, our industry are protected, and that their can help manage the personal values are respected. 13 Healthy Ageing Innovation Campus, Lancaster 18 interaction with conventional finance, so that customers’ 14 Stephenson Quarter, Newcastle 19 values are reflected to the maximum extent possible. 15 Park Hill, Phase 2, Sheffield 20

16 London Cancer Campus, Sutton, London 21

17 Silvertown Quays, Royal Docks 22

18 Slough Town Centre 23 06 Investing using Islamic Finance Investing using Islamic Finance 07

1. Gatehouse PRS Residential Fund 2. Manchester Place

Opportunity Target geographies: Greater Manchester, (North Gatehouse Bank is looking to West England), Birmingham / secure partners to invest £325M West Midlands - areas of high in the Private Rented Sector growing population, strong (PRS) through a diversified fund. private sector employment and The opportunity is to develop and ageing and obsolete housing own an interest in a significant Overview To the east is the existing First Manchester Place stock. Family homes are Street development, a mixed portfolio of private rented homes A prime opportunity to work in Manchester is the UK’s second preferable to the apartment use scheme which includes the located in select under-supplied strategic alliance with city and at the heart of the market, owing to the length of new contemporary arts venue markets in the United Kingdom. Manchester City Council on the Northern Powerhouse tenure by families and the need Current Status HOME. An initial portfolio has been to stay close to schooling. next wave of residential Initial sites identified with developments. The project To the west Great Jackson Its long term growth is based identified with other sites More than 10 million people – planning consent to start on consists of three zones of more Street is an 8 hectare site which on strong economic and currently being shortlisted to one sixth of the UK population site. Other sites have been than 10,000 homes in total with offers the potential to be demand figures create a total portfolio of up to – live in rented homes today. identified and will only be a combined value of over £3bn. transformed into an exciting 6,500 homes. This fund This is expected to grow to 25% acquired upon receipt of new neighbourhood of up to We want partners who share leverages Gatehouse’s prior of the total population by 2024 Northern Gateway satisfactory planning consent. 3,600 residential units our long term vision experience in the PRS sector, as (Savills). it is currently developing Extending in a north eastern arc (depending on agreed densities) The PRS sector remains highly approximately 925 PRS from Victoria Station and taking as part of a mixed use scheme fragmented: 80% of all PRS homes in Greater Manchester QUICK FACTS in the neighbourhoods of NOMA, with river frontage that will also QUICK FACTS properties are owned by private and Merseyside. the Lower Irk Valley, New Cross deliver commercial and landlords with four or less Project Sponsor: Gatehouse and Collyhurst, this area extends community space and new Project Sponsor - properties. Institutions, while public squares. Manchester Place Overview Project Type: PRS over 150 hectares and has keen to enter the sector, capacity to deliver between Developer: Manchester There has been a dramatic have yet to invest in a Equity Requirement: £325m Eastern Gateway 5,000 – 7,000 new homes over City Council increase in demand for private meaningful scale. Gross Asset Value: £1 billion the next 10-15 years. Centred around Piccadilly rented homes due to increasing Project size: Total £3bn at completion station and the planned HS2 population, limited supply of new Southern Gateway the area offers vast potential Type: Residential stock and affordability issues. Investment Type: The Southern Gateway straddles for mixed use and residential Potential PRS households grew Funding partner the main arterial route into the Investment Type: Investor / development. by c. 2 million in the UK in the city from the affluent southern developer decade to 2011, while the level of Status: First phase identified suburbs. Close to Manchester Piccadilly Basin is already Construction: First phase new build houses decreased. Central, the city’s conference established delivering homes in Completion: From Q2-2016 due Q2 2016 centre and Manchester’s two both new build and conversion university campuses it is well properties. Location: Manchester Location: Across the UK served by both rail and Metrolink connections with good A masterplan for the area is connectivity to the city core. already in place. 08 Investing using Islamic Finance Investing using Islamic Finance 09

3. Mayfield Quarter, Manchester 4. Middlewood Locks, Manchester

Overview Opportunity Middlewood Locks is positioned The master plan for the site has in an excellent location at the been conceived from the outset edge of Manchester city centre with the vision of creating a and represents an opportunity comprehensive residential to establish a very attractive neighbourhood for Manchester. residential neighbourhood based As well as communal gardens Opportunity The scheme will regenerate around a remediated canal basin. and child play areas, proposed a significant portion of the QUICK FACTS offerings for residents are London and Continental Railways city centre adjacent to one of The proposed scheme extensive. These include future QUICK FACTS (LCR), Manchester City Council, its main transport hubs. The Developer: LCR/MCC/TfGM incorporates a total of 2,000 links to the city centre via a and Transport for Greater Mayfield Strategic Regeneration residential units and new pedestrian crossing across Developer: Scarborough Manchester (TfGM) have jointly Framework (SRF), endorsed by Project size: £500m c750,000sq ft of commercial the A6042 into the New Bailey Group entered into a land pooling Manchester City Council in accommodation, and will provide development and a new agreement which will unlock new Type: Office-led mixed use January 2014, sets out a vision a number of amenities for footbridge across the River Project size: £650mn regeneration opportunities for Mayfield to become a residents and visitors including Irwell taking residents into the around Manchester. Investment Type: Developer distinctive new urban quarter community gardens, restaurants, heart of Allied London’s St Type: 2,000 Unit PRS finance / co-investor that defines a gateway into gyms, cinema and a nature trail. John’s development. scheme The agreement will see the Manchester and extends the Construction: Due to The site sits adjacent to Salford Mayfield Quarter transformed The development site is currently Investment Type: high quality environment of the Central train station, which as into a vibrant and sustainable commence 2015 city centre. LCR continues to a large cleared and fully part of the now approved Co-investor / development mixed-use development. The work closely with the Council to remediated site of unequalled Ordsall Chord works, will see a finance project is expected to deliver Completion: Phased over develop the vision for the area, proportions providing an vast increase in passenger over 7,500 jobs through the 7 – 10 years maximising the regeneration opportunity to establish a numbers with three new Construction: Commenced creation of 75,000m2 of office benefits by careful integration residential environment of the platforms being added and the Q4 2015 space, together with 1,300 Location: Manchester with the Northern Hub and HS2 highest quality based around an number of trains calling at the homes, a 350-bedroom hotel, City Centre initiatives, and developing it existing canal basin. The station per hour due to double. Completion: Phased over retail and leisure facilities and a through a combination of public development has secured Salford Central will effectively 3-5 years new six acre city park and private sector investment. planning permission with become the de facto rail centred along a remediated construction due to start in station for workers within Location: Manchester River Medlock. Q4 2015. Manchester’s CBD. 10 Investing using Islamic Finance Investing using Islamic Finance 11

5. Alderley Park, Cheshire 6. Smithfield, Birmingham

Overview bioscience R&D campus at its Heart. Occupiers range QUICK FACTS Alderley Park is an from start-ups to corporates internationally important centre and national institutes. Developer: Manchester Five strategic ‘areas of for full spectrum bioscience R&D Overview Opportunity Science Partnerships transformation’ are identified to with a track record of delivering The vision for the development Located in the heart of the city Birmingham Smithfield fits deliver this growth. Birmingham medical breakthroughs which focuses on creating an centre, Birmingham Smithfield within the City’s exciting growth Project size: £325m (part of Smithfield will be at the heart of benefit patients globally. As the accessible and connected covers 14 hectares of land agenda. This includes: delivering a £1.2bn programme in three the largest area, the Southern former home to AstraZeneca, community with strong links bringing together a 51,000 new homes; 100,000 strategic sites) Gateway, which extends over more than £550m has been back to the city and to the comprehensive site that jobs; the infrastructure to 82 hectares. invested in the site and facilities scientific community in the Type: Commercial includes the wholesale markets, support the City’s growing over the past decade. Alderley North and beyond. (laboratory, office & the Bull Ring Markets and Moat population by 2031; and, Park is the single best invested QUICK FACTS The vision for the development associated amenities) & Lane Gyratory. continue to strengthen the drug discovery and development supporting investment fund City’s national and international focuses on creating an Developer: Birmingham City campus in the UK. This project provides the standing. accessible and connected Council community that is part of the Investment type: Co-investor opportunity to reimagine this Opportunity Project size: £2bn Manchester Science Corridor part of the city centre, retaining The city centre will be central The site comprises 1.1m sq ft, Construction: Due to and supported by key research and strengthening existing assets to this future growth agenda as Type: Large mixed use of premier office and lab space commence Q4 2015 institutions such as the while reconnecting the area and the economic hub for the regeneration at the southern set within a stunning 400 acre Completion: Phased University of Manchester. creating new environments. The City and principle visitor and gateway to the city centre parkland setting. The site site has over 5 years Bull Ring Markets including the cultural destination. The growth Investment Type: the potential to add a 700,000 The project is supported by the Indoor, Rag and Outdoor, (termed potential for Birmingham Co-investor sq ft of development, creating a Greater Manchester & Cheshire Location: Alderley Edge, the retail markets) have played Smithfield was first Construction: Target business and research Life Science Investment Fund Cheshire an important role in the City’s established within the Big City commencement Q2 2016 community employing a which has secured public and development since 1166. Plan launched in 2010. minimum of 7,500 people across private funding of £42m and is Investment Fund: Opens Completion: Phased over 10 the site, with potential after seeking to raise a further £58m September 2015 year programme development to increase to to invest in a broad spectrum of Location: Birmingham maintaining a full spectrum life science businesses. 12 Investing using Islamic Finance Investing using Islamic Finance 13

7. Legal & General Regeneration 8. East of Leeds partnership proposal Orbital Route, Leeds

Overview Overview retail and community facilities, The recovery of this investment green spaces, sports and leisure capital is derived from a ‘roof Legal & General has committed The East Leeds Extension (ELE) facilities, transport and tax’ on new residential schemes principal capital to invest in UK is the single largest opportunity movement infrastructure. as they come forward on the regeneration projects (sourced in in the city to deliver new high It will require co-ordination land released by the conjunction with the quality residential with a range of development construction of the road. Regeneration Investment neighbourhoods on allocated interests across a number of Organisation) and are actively greenfield housing land. land ownerships and over seeking international a period likely to span co-investors to partner with The site has the potential to Opportunity To attract investment into several years. them. The strategic aim is to deliver Leeds’ Best City ambition. non-standard infrastructure attract co-investors of varying L&G believe that the best From the very earliest planning Opportunity investment, internal rates of sizes, and to reflect that deal model to successfully deploy stages the aspiration is to create returns for projects will need The delivery of East of Leeds specific co-investment will be capital in this space is with an a child-friendly city, meet the to reflect the risks. Orbital Route is critical to available to investors on selected experienced fund manager who needs of older people and enable unlocking the development Legal & General principal deals. invests its own principal balance positive public health outcomes. capacity of the ELE and as such sheet on similar terms to other The aim also is to deliver has become a focus of strategic planning for the area, including Focus for investment will be on co-investors in the fund. QUICK FACTS attractive and sustainable travel projects that include Such a ‘principal co-investing choices and ensure that its cost, funding, scope, phasing in relationship to pre-planning and construction manager’ will demonstrate: development is achieved in a way house building and risk, with the target to deliver Developer: Legal & General that meets the growth needs of QUICK FACTS responsibility for construction. value to investors through high • Financial commitment as the city whilst complementing quality asset/project investment manager and Project size: Dependent and improving the amenity of The investment opportunity Developer: Leeds City management, resulting in investor to converting a existing neighbourhoods. Council on project is to co-invest alongside longer-term lower risk diversified pipeline of Leeds City Council, to provide Project size: £200M operational assets. projects. The ELE will be “place-making” the capital costs of the new Type: New orbital road, Type: Multiple asset classes across 217 hectares of land, and link road. • Provide pension or sovereign will embrace the planning and un-locking land for 5000 fund co-investors access to delivery of new homes, schools, new homes local market knowledge in an Investment Type: Investment Type: efficient way. Co-investor Co-investor/investment funder • Align the interests of the Construction: N/A Construction: Due to investors with the investment commence Q4 2015 managers, both by Completion: Phased reputation and own capital Completion: N/A at risk. Location: East of Leeds Location: National City Centre 14 Investing using Islamic Finance Investing using Islamic Finance 15

9. Thorpe Park, Leeds 10. Atlantic Gateway, Liverpool-Manchester

Overview service plots capable of customers alike. The scheme Overview Major Atlantic • Seaforth Deep Sea accommodating up to 200,000 benefits from major strategic Gateway projects Container Port: planning Thorpe Park is an established The Atlantic Gateway is a sq ft of buildings. An additional infrastructure – greater private consent for a new deep sea business location, adjacent to strategic corridor stretching 40 The Mersey Waters Enterprise 113 acres of land will be used to and public transport container port at Liverpool the M1 motorway, with 800,000 miles from the Port of Zone includes Peel’s flagship create a new public park. connections, with further docks to handle a million sq ft of development built and Liverpool to the City of projects and improvements planned. containers per year. occupied to date, including Opportunity Manchester, including 50 Liverpool Waters and the Peel 600,000 sq ft of high quality The opportunity is to develop development sites. The International Trade Centre. office accommodation. out the remaining land to create QUICK FACTS development is a £75bn QUICK FACTS opportunity to create a low The current business community a new type of mixed use carbon, economic growth zone. • Wirral Waters: The waterfront Developer: Peel Holdings is estimated at 4,500 people, community environment to Developer: Scarborough regeneration of 800 acres of and is supported by amenity meet the demands of modern Developments Opportunities available include: docklands is the largest and Project size: Varies uses such as the high quality and commercial occupiers and home Project size: £500M most visionary regeneration dependent on project award-winning Hotel, Spa and owners. This will include the • Urban regeneration project in the UK. Planning Conference Centre on site. provision of retail and leisure Type: Mixed use Type: New office/retail • Real estate permission has been granted. Existing blue chip occupiers space alongside business space mixed use scheme. • Renewable energy include Barton Willmore, Kier, – creating a highly attractive Investment Type: Developer BAM, GE Capital, IBM, Laing development, and providing Investment Type: finance / co-investor • Transport • Liverpool Waters: A £5.5bn O’Rourke, Lidl (UK) Ltd, National important supporting amenities Co-investor scheme to develop the Grid, Northern Foods, Regus, for business occupiers. Construction: Commenced historic dockland site to United Utilities and Balfour The scheme has developed a Construction: Due to create a world-class, Completion: Phased over Beatty. higher-density and more urban commence Q3 2015 layout, whilst bringing forward high-quality, mixed use 20 years over 140 acres of parkland Completion: Phased waterfront quarter in central Approximately 100 acres of land Location: North West remains for development at space and associated Liverpool. Planning England Thorpe Park, 13 acres of which sporting facilities and Location: East of Leeds permission has been granted. are already serviced (with access landscaped grounds within the City Centre roads, utilities etc). Infrastructure Estate to the general health and is therefore already in place to wellbeing of occupiers and 16 Investing using Islamic Finance Investing using Islamic Finance 17

11. Old Oak Common, London 12. Centre for Advanced Knowledge, Cambridge

Overview Opportunity QUICK FACTS Overview to attract and retain skilled facility, an Incubation Centre, Earmarked as a major mixed-use Significant rail investment staff, enabling the centre and Hotel, Retail, Leisure and The Centre for Advanced development opportunity, Old including the HS2, Great West region to attain world tourism facilities. Project owner: Multiple Knowledge Engineering is a high Oak Common can provide up to Main Line and Crossrail leadership in the field of impact investment focused on 55,000 new jobs across Old Oak super-hub stations, and ownerships on site Knowledge Engineering. delivering long term sustainable QUICK FACTS and Park Royal to create a new proposed London Overground destination in West London, regeneration in West Norfolk, stations nearby. Investment type: Opportunity serving as an extended West End. East of England. The centre will Project Owner: Aventa The site has also been Site: The site spans 155 hectares Developer, investor be an internationally renowned Commercial, education/skills Capital recognised to have the potential and is located in West London facility providing commercial, development, and research research and education Project type: Big data / for 24,000 housing units. amidst the opportunity areas of Planning: Pre-planning campus. Vauxhall Nine Elms, Earls Court facilities in the sustainable and business park design stage dramatically expanding field of Investment Return: and White City. Old Oak and The phased development will Knowledge Engineering (Data Investment returns can be Park Royal will be a sustainable include 10 Grade A commercial Total Development Cost: Analytics, Digital Forensics and c.£189 million – phase 1 realised through the sale of new town built on brownfield Status: Significant and research buildings and Data Security). (Comm 2015) developed facilities upon land in the centre of London. mixed-use regeneration and large-scale conference facilities. completion and income derived With enhanced rail connectivity development opportunity The development plans will Investment Type: Funding from commercial and The Institute of Data Science the site will be ten minutes from provide commercial and partners Building will accommodate 300 residential lettings. Old Oak Heathrow, ten minutes from government tenants with a “data Completion: c. 25 – 30 years Students; 16-19 years old, Common has the potential to the West End, 38 minutes from engineering” skills pipeline plus Status: Outline planning undergraduate and absorb the increasing demand Birmingham, and within an hour affordable housing in the area, Location: Downham Market, for central London space. of five of the UK’s international Location: West London thereby offering an attractive postgraduate research students, West Norfolk airports. work/lifestyle balance in order a 200 student residential 18 Investing using Islamic Finance Investing using Islamic Finance 19

13. Healthy Ageing Innovation 14. Stephenson Quarter, Newcastle Campus, Lancaster

Overview Opportunity Local Enterprise Partnership growth funding allocated The vision for Lancaster To establish a new to the project. University Healthy Ageing state-of-the-art whole life Innovation Campus is that it will ageing, healthcare Innovation QUICK FACTS be a “leading presence in the UK Campus, focussed in Lancaster. and renowned internationally, for The project will provide a new the commercialisation of applied Scheme owner: Lancaster faculty and innovation space, University research into tangible deliver a new integrated improvements in quality of residential village community, Project type: Life science / life - Ageing, Healthy and Well”. incorporating extra care education provision and to enhance Lancaster University was Project size: £167M the University’s ageing recognised as a top 10 Higher Total size area: 5Ha research output. Education and Research Type: Residential, Institution, with a truly global Educational reputation and standing. The The university is seeking £116m Faculty of Health and Medicine is for the £167m scheme. Up to Investment Type: Overview Phase 2 Depending on the nature of the leading global research consortia £50m of public sector Equity/debt investment, investment returns The Stephenson Quarter 270,000 sq ft of offices; 40,000 in millions of pounds of high funding has already been could include both finance costs Location: Lancaster comprises a 10 acre city centre sq ft of retail/leisure space; a value research activity on ageing secured for the scheme and equity returns. site adjacent to the main central boutique hotel; 156 residential and end-of-life care. including an additional £17m of station. The site is 5 minutes’ apartments; 3 acres of public walk from Newcastle Quayside realm. QUICK FACTS and 7 minutes’ walk from the main retail centre. Opportunity Owner: Clouston Group Detailed planning permission Phase 1 for the entire site was granted Project type: PRS residential The 251 bed Crowne Plaza hotel; in August 2009 and was Total site area: 1Ha 35,000 sq ft of offices; a 357 implemented in June 2012. space multi-storey car park. Project size: £200m Phase 1 of the project is A full Environmental Impact underway and will be completed Assessment has been Type: Mixed use by 2015. undertaken on the entire site as part of the original planning Investment Type: Various application. Construction: 2015 / 25 20 Investing using Islamic Finance Investing using Islamic Finance 21

15. Park Hill, Phase 2, Sheffield 16. London Cancer Campus, Sutton, London

Opportunity With limited access to new build • Constrained development supply, residential rental values supply in the city has seen Park Hill is a unique reflect this constant demand rental levels rise year on year opportunity to regenerate the for housing. It is anticipated and had a wider impact on largest listed building in Europe that there will be an average housing values and and to realise the completion of increase in housing rents of affordability. Park Hill has the the project that has already 4.5% for the next 5 years (RICS potential to be the largest demonstrated high levels of 2013). tranche of much needed demand in the marketplace for housing to the marketplace Opportunity Immediate Investment its quality product. Overview Opportunity QUICK FACTS for some years. The London Cancer Campus is The marketed transactions to • Park Hill is a local landmark in intended to be a world leading QUICK FACTS Owner: Royal Marsden date fully support and reflect the Sheffield. It receives a huge life sciences location. The 20,400 sq m modern Drug Hospital viability of further amount of media interest and Discovery Complex. investment. The project is is widely known for both its Owner: Urban Splash The site will feature more than Project type: suitable for support from both listed Brutalist facades and Project type: Residential 192,000 sq m of life sciences Medical campus the Large Site Infrastructure also its vast capacity. space and will create 9,000 new Life sciences is currently the Total site area: 30 acres Fund and Housing Debt jobs in the area. third largest UK growth sector Total site area: 10 acres Guarantees. Demand for the right • It gained outline permission Project size: £78M where there is clear demand housing product within core for over 900 homes - that is unsatisfied through Project size: £100M Planning Status: Detailed cities and primary markets is one of Sheffield’s major existing supply. Current returns increasing, leading to a 3% rise regeneration projects. The Investment Type: Joint on this investment opportunity Planning Status: Outline in sales in 2014, potentially rising national, regional and local venture are not clearly defined at this up to 24% by 2018. awards won to date reflect Construction: 2015/16 stage but will be forthcoming. Investment Type: various Park Hill as a market leader Construction: 2016 in design and quality. 22 Investing using Islamic Finance Investing using Islamic Finance 23

17. Silvertown Quays, Royal Docks 18. Slough Town Centre

Overview for over 2m sq ft of Brand is minimised as the Greater Opportunity Pavilions, 0.5m sq ft of London Authority and Newham The Silvertown is a 50 acre The Heart of Slough is an entirely incubation, retail and leisure Council who will grant any development site in East London, new commercial district; over facilities along with 1m sq ft planning, selected TSP to act as adjacent to residential housing £45m of public investment has of residential space. the developer for the site and and existing commerce including: already been spent on are supportive of their plan. Opportunity infrastructure or is committed • City Airport to de-risk projects and increase The new owners of the returns to private investors. • The Excel Centre Silvertown development are The scale of the ambition is The Silvertown Partnership significant but credible with • The Royal Dock (TSP). TSP is looking to secure development of 1,600 homes, an equity partner to take a 70,000 sqm of office space, a 120 The site will be positioned within stake in the project and to join bed hotel, a bus station, retail 5 minutes’ walk of the new Excel the consortium as a funding and leisure opportunities and a Crossrail station – due to open partner. new cultural centre for the town in 2018. known as “The Curve”. The full development cost is The Masterplan is centred on expected to reach £1.8bn with QUICK FACTS This opportunity focuses on: a Brand & Innovation park of significant upside opportunities. Overview bespoke Brand Pavilions that Project Owner: The Slough in London is home to QUICK FACTS will be occupied by world leading • Development of 2,500 sqm Timing and Planning Silvertown Partnership 4,600 businesses with a companies. of educational space, 1,500 competitive and dynamic Project Owner: Slough Outline planning consent has residential units along with business environment that Borough Council and Slough The site will be developed over been secured for the scheme by retail, leisure and Project type: Mixed use / contributes approximately £8bn Regeneration Partnership multiple phases with the Q2 2015. Phase One commercial space. to the national economy, double potential to add to the commencement is planned for residential the UK average, relative to its size. Project type: Mixed use / masterplan in later stages if need Q1 2016 with subsequent phases residential arises. The site has the potential to follow. The risk from planning Home to international brands, Development cost: £2.5bn • Over 70,000 sq.ft. of Grade A we are 10 kms from Heathrow Investment type: Funding Total site area: 17 ha Office space next to the new Airport and 17 minutes (by train) partner to central London and excellent Crossrail station Project size: £747m transport links across the UK. Local enterprise and corporate Type: Mixed use Status: Outline planning headquarters combine to secured 2015, • Multi-site residential provide highly skilled, highly commencement on Investment Type: various developments paid employment opportunities site due 2015 for the Slough workforce Construction: 2015-2020 24 Investing using Islamic Finance Investing using Islamic Finance 25

Contacts

Regeneration Investment Organisation

W: gov.uk/ukti/rio

E: [email protected] gov.uk/ukti

UKTI UK Trade & Investment is the Government Department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high-quality investment to the UK’s dynamic economy acknowledged as Europe’s best place from which to succeed in global business. Disclaimer This publication is intended to highlight potential issues and provide general information and not to provide commercial or legal advice. You should not take, or refrain from taking, action based on its content. Whereas every effort has been made to ensure that the information in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation and Skills, and the Foreign and Commonwealth Office) accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. © Crown Copyright 2015 You may re-use this information free of charge in any format or medium, strictly in accordance with the terms of the Open Government Licence. To view this licence, visit: www.nationalarchives.gov.uk/doc/open-government-licence Image credits or email: [email protected]. These images have been provided for the specific potential projects in this publication Where we have identified any third party copyright information in the material and cannot be reproduced. that you wish to use, you will need to obtain permission from the copyright holder(s) concerned. Front cover: Liverpool and Leeds link canal, Liverpool Any enquiries regarding this material should be sent to us at [email protected] or telephone +44 (0)20 7215 5000. Inside front cover: ©Richard Moore, p01, 03, This document is also available on our website at www.ukti.gov.uk 06, 13, 14, 17, 18, 21 ©Crown copyright, p04, p12, p19, ©Manchester Place p07 Production The paper in this document is made from 50 percent recycled waste pulp with ©Mayfield Quarter p08 50 percent pulp from well-managed forests. This is a combination of Totally ©Middlewood Locks, p09 Chlorine Free Elemental Chlorine Free. The inks are vegetable oil-based and ©Alderley Park, p10 contain resins from plants/trees and the laminate on the cover is sustainable, ©Smithfield, p11 compostable and can be recycled. ©Atlantic Gateway p15 ©Old Oak Common, p16 ©Park Hill, p20 Published July 2015 by UK Trade & Investment ©Silvertown, p22 URN: UKTI/15/59 ©Slough Town, p23