1. CNM Estates (Tolworth Tower) Limited
Kingstons House, 15 Coombe Road, Kingston-Upon-Thames, London, KT2 7AB
Tel: 020 8390 9265
www.cnmestates.com
Company Registration Number: 09181950
VAT Registration Number: 220614945
Registered Address: 2 Kings Road, London Colney, Hertfordshire, AL2 1EN
PRESS RELEASE
CNM ESTATES FINANCES TOLWORTH TOWER, LONDON WITH VENN PARTNERS AND APRIROSE
26 October 2015, Kingston upon Thames, London CNM Estates, a community focused property investment and
development firm, has announced its strategic acquisition of Tolworth Tower, an iconic modernist tower located in a
key area of investment and future growth within the Royal Borough of Kingston Upon Thames.
Funds advised by Venn Partners LLP have provided a total of £42 million in senior acquisition and capital expenditure
funding to finance the first phase of development. Venn was joined by Aprirose Real Estate Investment who has
provided the mezzanine finance facility for the acquisition. The initial upgrades include new cladding on the North
Tower, the conversion of the North Wing to provide much needed new housing within the Borough and upgrades to
the office tower.
CNM will invigorate new life into the Tower with an initial capital investment programme of some £10 million over
the next year. In addition, CNM has lodged a planning application for apartments, office space and substantial
upgrade to the public realm. The application is expected to be determined in the next few months.
The 22-storey Tolworth Tower was originally completed in 1964 and designed by renowned architect Richard Seifert
& Partners - Seifert was a pioneer in bringing commercial towers to London. The project includes a popular Marks &
Spencer Foodhall as well as 120-bed Travelodge Hotel.
Natale Giostra, Head of Treasury and Capital Markets at CNM Estates, commented: “Venn Partners LLP and Aprirose
Real Estate Investment have both demonstrated their understanding of our business strategy and long-term vision
for the new phase of Tolworth Tower. CNM Estates has a substantial balance sheet and own resources to deploy in
the acquisition of new development sites and regeneration investment opportunities. We have a current pipeline of
over 20 sites, majority located in the Royal Borough of Kingston upon Thames and surrounding areas for an expected
gross development value (GDV) of over £1 billion.”
Paul House, Partner Venn Partners LLP, commented: “Venn Partners is delighted to conclude this successful
transaction on Tolworth Tower and in supporting CNM’s impressive business strategy to bring new life to this iconic
asset. Coincidently, the tower is the 4th Seifert tower building financed by funds advised by us and we are pleased
to play our part in the rejuvenation of London’s first commercial tower buildings.”
Gary Jones, Chief Operation Officer, Aprirose Real Estate Investment, commented: “This is a very unique transaction
for us. We have a £1 billion property portfolio of our own but this is the first time we have provided a mezzanine
debt facility for another property owner. This is an exciting development for our business. The development is in a
key location and once we understood the full dynamics of the site and CNM Estates’s future plans, we felt it was a
great opportunity to become involved in the project and we are interested in being a long term investor in certain
aspects of the site.”

2. CNM Estates (Tolworth Tower) Limited
Kingstons House, 15 Coombe Road, Kingston-Upon-Thames, London, KT2 7AB
Tel: 020 8390 9265
www.cnmestates.com
Company Registration Number: 09181950
VAT Registration Number: 220614945
Registered Address: 2 Kings Road, London Colney, Hertfordshire, AL2 1EN
Wahid Samady, Chairman CNM Estates, commented: “CNM Estates is committed to the long-term regeneration of
Tolworth Tower and its surrounding area. The completion of the purchase of Tolworth Tower is an important
milestone for CNM Estates. We are working closely with local businesses and communities to kick start the
regeneration of Tolworth, an area which already provides great connectivity and amenity.
Brown Rudnick LLP and Fladgate LLP provided legal advice to CNM Estates; King & Wood Mallesons, Katten Muchin
Rosenman LLP and Reed Smith advised the lenders.
Lambert Smith Hampton and Arcadis provided valuation and property due diligence. BCM Real Estate advised
Aprirose Real Estate Investment.
Ends
For further information contact: www.cnmestates.com www.tolworthtowerregen.co.uk Twitter @CNMEstates
For further press information contact:
Kitty Jones, Socrates kjones@socratesint.com; +44 (0)20 7384 3437, +44 (0)7776 196653
About CNM Estates
Since 2004 CNM Estates sources, funds, develops and delivers high quality homes, student housing, hotel and mixed use developments,
working predominantly in and around the London Borough of Kingston and within the M25.
CNM Estates has built in depth local knowledge and industry expertise through its hands on management of the entire development process,
from site sourcing to concept development, planning, construction and sales.
In each project, the CNM Team, working with partners, makes a vital contribution to the regeneration of surrounding areas and improvements
to local communities, creating vibrant new surroundings in which people live and work. CNM excels in the assembly of top class professional
design teams with a focus on delivering buildings which will stand the test of time, whilst embracing the most up to date sustainable
technologies.
Since 2004, CNM Estates has obtained planning and developed more than 1.5 million Sq Ft of high quality residential and mixed use schemes.
Current pipeline includes over 1,100 residential units, 300 hotel rooms, 100,000 Sq Ft of retail units.
CNM works closely with local stakeholders and communities to deliver high quality projects. It provides ongoing support to Kingston’s Rose
Theatre, is a founding donor of Love Kingston and actively supports numerous local interests.