Real London Property. Digital Precision.
LBC Token is a GBP-denominated security token issued by London BTR Capital for qualified investors. Capital is deployed exclusively through DNA Real Estate into Greater London's living sector - one of the world's most supply-constrained real estate markets.
£300,000,000
Total Capital Programme
9.0% p.a.
Tranche A Annual Return (PIK)
~5-7 Years
Investment Horizon
For Qualified and Institutional Investors Only. Not available to UK residents. Capital at risk. This is not financial advice. View full disclaimer.
About
What is the LBC Token?
The LBC Token is not a cryptocurrency and it is not speculative. It is an institutional-grade digital secured debt instrument, issued digitally for efficiency.
Investors acquire security tokens issued by London BTR Capital. London BTR Capital works exclusively with DNA Real Estate, an established London developer, providing a secure loan facility to fund its Greater London development sites. Investors earn a fixed annual return and are repaid from proceeds when those sites are completed and sold or refinanced.
The word "token" refers only to how the investment is recorded and administered - digitally on a blockchain ledger. The economics are identical to a traditional private credit instrument.
In simple terms
You lend money. London property gets built. You earn 9% per year on your loan. When the property is sold, you get your money back - plus everything it has earned. The developer only profits after you have been fully repaid.
What LBC Token IS
A fixed-return secured debt instrument
Institutional-grade private credit structure.
GBP-denominated
All amounts in British Pounds Sterling.
Asset-backed
Capital deployed into real London property sites.
Senior to sponsor
Investors are paid before the developer sees any profit.
Issued digitally
Cleaner administration, faster onboarding, transparent records.
What LBC Token is NOT
- ✕Not a cryptocurrency or speculative digital asset.
- ✕Not equity - investors do not own shares in any company.
- ✕Not a traded token - transfers are controlled and restricted.
- ✕Not available to UK residents - see regulatory notices.
Opportunity
Why London. Why Now.
London has a decades-long structural housing deficit. That deficit is the foundation of this investment case.
The government's 2025 London Plan requires approximately 88,000 new homes per year - up from the previous 66,000 target. Actual delivery runs below 40,000. The cumulative shortfall now exceeds 300,000 homes. London BTR Capital channels institutional-grade private credit into living sector projects that help close this gap.
The Numbers
88,000
New London homes needed per year (2025 London Plan)
£5.3bn
UK BTR investment 2025 - record year (Savills)
165,790
BTR homes completed in the UK (Knight Frank, Q1 2026)
126,565
BTR homes in the UK planning pipeline (Knight Frank, Q1 2026)
What London BTR Capital is Funding
3 Sites
West & North London - active planning progression
~2,500 Units
BTR, Co-Living, PBSA & Mixed-Use
~£1.5bn GDV
Gross Development Value upon stabilization
Asset Mix
Living sector
Build-to-Rent Residential
- Demand driver
- Structural rental demand and declining homeownership.
- Why it works
- Planning uplift, development margin, and institutional exit yield.
Living sector
Co-Living
- Demand driver
- Affordability-constrained urban renters aged 18–35.
- Why it works
- 20–35% higher revenue per sq. ft. than standard BTR.
Living sector
Purpose-Built Student Accommodation (PBSA)
- Demand driver
- 400,000+ London students; bed shortfall at UCL, Imperial, and King's.
- Why it works
- Index-linked income and predictable annual demand cycle.
Living sector
Hospitality & Commercial
- Demand driver
- Planning requirements and corporate/leisure demand.
- Why it works
- Diversified income and enhanced planning consent.
Token
Token Structure & Tranche Terms
Tranche A
- Capital Target
- £150,000,000
- Annual Return
- 9.0% per annum
- Return Type
- PIK - compounding annually
- Investment Horizon
- ~5-7 years
- Availability
- OPEN NOW - early investor priority
- Return Multiple (5 Yrs)
- 1.54x on invested capital
- Minimum Subscription
- Contact investor relations
Tranche B
- Capital Target
- £150,000,000
- Annual Return
- 7.5% per annum
- Return Type
- PIK - compounding annually
- Investment Horizon
- ~5-7 years
- Availability
- Opens after Tranche A closes
- Return Multiple (5 Yrs)
- 1.44x on invested capital
- Minimum Subscription
- Contact investor relations
What is PIK?
Payment-in-Kind means that instead of quarterly cash interest, your return accrues throughout the investment period and is paid as a single lump sum when development sites are monetised.
Example: £1,000,000 invested at 9.0% p.a. grows to £1,538,624 by year five, paid in full upon exit.
Returns
What Your Investment Could Grow To
All figures below are illustrative, based on annual compounding at the stated rate. Returns are not guaranteed. All amounts in GBP.
Projected returns
Tranche A - 9.0% Per Annum (Illustrative)
| Investment | 3 Years | 5 Years | 7 Years | 10 Years |
|---|---|---|---|---|
| £250k | £323,881 | £384,656 | £456,674 | £591,839 |
| £500k | £647,762 | £769,312 | £913,348 | £1,183,678 |
| £1M | £1,295,029 | £1,538,624 | £1,826,696 | £2,367,364 |
| £2.5M | £3,237,573 | £3,846,560 | £4,566,740 | £5,918,410 |
| £5M | £6,475,146 | £7,693,120 | £9,133,480 | £11,836,820 |
Important disclaimer
These figures are illustrative only, based on annual compounding at the stated rate. They do not represent a guarantee of actual returns. The LBC Token is a private market debt instrument; actual returns depend on the performance of the underlying development programme. Capital is at risk. Past performance of comparable assets is not a guide to future results. Prospective investors should obtain independent financial advice before making any investment decision.
Protection
How Your Investment is Protected
LBC Token is structured to give investors a defined priority position and a documented enforcement pathway. You sit above the developer in the repayment hierarchy - they do not see profit until you have been fully repaid.
Six Layers of Investor Protection
Ring-Fenced Issuer SPV
London BTR Capital. exists solely to issue LBC Tokens and manage investor capital. No cross-contamination from unrelated activities.
Share Charge Security
Security over the shares of DNA Real Estate. - the entity that owns the development sites. If things go wrong, investors have an enforcement pathway to the real estate.
Independent Security Agent
An independent professional trustee holds security on behalf of all LBC Token holders collectively. Enforcement is coordinated - no single investor can act alone or be disadvantaged.
Intercreditor Agreement
Legal document governing how LBC Token holders and senior construction lenders interact. Gives clarity on waterfall priority and investor consent rights.
Sponsor Subordination
DNA Real Estate. is contractually prohibited from receiving any distributions or profit until every LBC Token holder has been fully repaid - principal plus all accrued return.
Smart Contract Audit
Independent audit of the token smart contract is required before capital deployment. Off-chain legal documentation provides an independent record of investor rights.
Repayment Waterfall - Who Gets Paid First
On any realisation event (property sale, refinancing, or forward-fund agreement), proceeds are distributed in this strict order:
Senior Construction Lenders
Repayment of senior facility principal, accrued interest, and any break costs.
LBC Token Holders - Principal
Full return of all investor principal, in full, before the developer sees any proceeds.
LBC Token Holders - Accrued Return
All accrued PIK return at the applicable tranche rate, compounding annually from subscription date.
Platform Costs & Reserves
Any residual platform costs, administration charges, or reserve adjustments.
Sponsor / DNA Real Estate.
Only after investors have been repaid in full - both principal and all accrued return.
The developer profits only if you profit first. That is genuine alignment.
The Team
Decades of London Real Estate Experience
The DNA team brings over 40 years of combined London development expertise, institutional capital market relationships, and a live £1.5 billion+ GDV pipeline in active execution.
Amar Randhawa
Founding Partner
Amar has led DNA to develop its multi-asset class platform with investment into natural resources and real estate. His ability to acquire development sites, raise funding and establish strong partnerships, has enabled DNA Real Estate to create a premier living platform opportunity with a combined value of over £1.5bn in GDV to date.
Having graduated with a BSc. in Theoretical Physics from University College London, Amar started his early career within the financial services sector working in fixed income and later equities. Since 2010, Amar has been actively involved in real estate development with completed projects spanning the home counties and prime central London, valued at over £250m in GDV.
David Scheurl
Partner
Before joining DNA as a Partner in 2022, he was a Senior Advisor to Signal Capital, a €2.5bn European asset manager, and set up Alvin Partners, an investment firm focused on credit-driven special situation opportunities on behalf of a group of UHNW European family offices.
David has 20 years of experience in capital commitment and corporate finance. He co-founded Metric Capital Partners (MCP), a €1.6bn private capital fund advisor, with a strong track record in financing operational real estate assets.
After graduating from Stanford University with a BA in Economics, he started his career at Deutsche Bank in the European Leveraged Finance team. Subsequently he was an investor at MatlinPatterson where he focused on distressed credit investments both in Europe and the U.S.
Simon Wigzell
Commercial Director
Simon started his career with Cushman Wakefield and is a Member of the RICS. Until recently he was Head of Group Property at FTSE250 CLS Holdings Plc having joined in 2009. He grew the company from £1.5bn to £2.3bn today and oversaw all asset management and development in UK, Germany and France. He successfully created CLS's biggest property development opportunity, 'Vauxhall Square' which he sold to Chinese developer R&F. He has delivered a range of projects including student, residential, long stay hotel and offices.
Prior to joining CLS, he was the Managing Director of various industrial and shopping centre funds. He also held senior development roles at BAA Plc for 13 years working on hotel and office developments. Simon has a passion for sustainability.
Julian Bell
Planning Director
Julian has 30 years experience in national, London and local government politics having served as Council Leader of the London Borough of Ealing for 11 years and worked with many MPs in Parliament and on the campaign trail for the Labour Party including for Tony Blair and Gordon Brown.
Julian has extensive experience of planning policy, regeneration and housing delivery in London having focused on these areas when Ealing Council Leader and an executive member of London Councils. He also chaired London Councils Transport and Environment Committee and most recently served on Transport for London's Board. He has now set up his own consulting company having stepped down from frontline politics in May 2022. Julian is a keen cyclist and a fervent follower of his beloved Sheffield United.
Cyril Ogunmakin
Development Director
Cyril spent 10 years as the CEO for Interland, a private property investment company based in London with operating assets across all multiple real estate sectors.
Over his tenure at Interland he achieved planning & development consents for over 1200 residential flats, Co-living, and PBSA with a long term investment strategy. He also garnered positive support from several banks and funding institutions (Including RBS, Investec, Secure Trust Bank, Safra & UMTB). Cyril previously led The Mason Group where he successfully acquired and refurbished/develop new sites in excess of £200m. Cyril brings extensive experience across the real estate planning and operating spectrum to the DNA team.
Duncan Souster
Senior Advisor
Duncan is Chief Executive and a founding member of the Avelios team. Duncan has significant experience working at board level across both the charitable and commercial sectors and is the former Chief Executive of The Jubilee Sailing Trust, where he led the charity's international expansion and worked with prominent philanthropists and corporate partners to establish high-impact programmes of work.
Prior to this, Duncan was Global Sales Director of ManpowerGroup, a Fortune 500 business services firm, where he led on a complex transformation to improve the management of key accounts across 86 countries. Duncan has a BSc (First Class) from University College London, is a Trustee of the Voces8 Foundation (a charity that inspires young people through music) and a Liveryman of the Worshipful Company of Shipwrights.
Corporate Partners
Institutional Partners to LBC
London BTR Capital works with specialist advisors and service providers across legal, corporate structuring, and tokenisation infrastructure.
The Process
Seven Steps to Subscribing
The investment process is guided and fully supported. From your first enquiry to receiving your LBC Token allocation, each step is handled with institutional-grade care.
Register Your Interest
Complete the online interest form or contact investor relations directly. No commitment required at this stage.
Investor Qualification
Complete a short eligibility process to confirm your status as a qualified or institutional investor. Execute a mutual NDA.
Receive Full Materials
Access the full Information Memorandum, detailed financial projections, site-specific GDV analysis, and complete legal structure documentation.
KYC / AML Onboarding
Provide identity documents, source of funds confirmation, and entity documentation via a secure digital onboarding portal. Your wallet address is whitelisted.
Subscribe
Execute the subscription agreement and transfer your capital commitment in GBP. Receive confirmation of capital receipt.
Receive LBC Tokens
LBC Tokens are minted to your verified wallet address. You receive a token allocation confirmation and your opening position statement.
Monitor & Receive Updates
Access your investor portal for quarterly project updates and annual accrual statements. At monetisation, receive formal repayment notice and settlement.
Tranche A is open now. Once £150,000,000 is subscribed, the 9.0% rate closes permanently.
FAQ
Questions & Answers
General Questions
The LBC Token is a digital debt instrument - not a cryptocurrency for speculation. It uses blockchain for record-keeping and offers a fixed return of 9.0% or 7.5% per annum, similar to a traditional private loan note.
Capital is on-lent to DNA Real Estate. to fund three residential development sites in Greater London (Build-to-Rent, Co-Living, and Student Accommodation) with a combined GDV exceeding £1.5 billion.
The investment horizon is approximately 5-7 years. It is a PIK (Payment-in-Kind) instrument - returns are paid as a lump sum at maturity rather than as regular income.
The security package includes a share charge over the holding company, an independent security agent, and contractual protections against sponsor distributions before investors are repaid.
Not available to UK investors. Exclusively for Qualified / Institutional Investors as defined by applicable law. KYC/AML verification is required.
Minimum subscription is confirmed during the qualification process. Contact investor relations for current terms.
Technical & Token Questions
Specific platform, smart contract, and wallet requirements are provided in the Information Memorandum after an NDA is signed.
There is no secondary market. Tokens are illiquid and transfers are restricted to whitelisted addresses only.
Smart contracts undergo independent audits before capital deployment. Off-chain legal documentation also records investor rights.
All subscriptions and repayments are in GBP (British Pounds Sterling). Investors using other currencies are responsible for their own conversion and currency risk.
Get Started
Ready to Learn More?
Tranche A is open now at 9.0% per annum. Register your interest and our investor relations team will be in touch within one business day.