Upmarket flats developer London Square invests in land for 908 homes

Upmarket housebuilder London Square has invested in land for almost 1000 new homes despite clouds hanging over the luxury flats market, it emerged on Monday.

The property firm, which is backed by US private-equity group Ares Management, agreed deals for sites in Neasden, Lewisham, Wandsworth and Tadworth, Surrey, in the year to March, accounts just filed reveal.

It plans to build 908 homes worth a total of about £550 million.

The expansion follows a “robust performance in what was a year of uncertainty”, non-executive chairman Mark Pain said.

Like rivals, London Square has been grappling with investors delaying buying decisions since the Brexit vote. New stamp duty changes have also hit some sales.