Pictet Alternative Advisors, in partnership with Pinnacle Investments, has acquired York Place, a newly developed block of 102 apartments in West London for £60 mln (€72 mln), from UK housing association A2Dominion.
The deal represents the joint venture's second London residential acquisition this year, and third since launching the strategy, following deals in Silvertown in January, and Limehouse in 2020.
Ed Jackson of Pictet, said: 'This attractive apartment block is situated in the heart of South West London’s riverside amenity, and is the third transaction in our London strategy, bringing our portfolio to over 300 apartments.
'London continues to retain its global primacy drawing capital and talent, although continues to suffer from a lack of quality and affordable housing accommodation, which is why we are investing in newly-built, energy efficient and well-located residential properties.'
York Place is a newly developed block of 102 apartments comprising a mix of one, two and three-bedroom units for private rent over ten stories. The asset is part of the Coda Residences development of 275 new apartments.
The wider scheme also houses the new London headquarters of the Royal Academy of Dance, and includes two cafés, a performance space and library.
The development stands less than 100 metres from the River Thames at Wandsworth Riverside.
Chris Turnbull of Pinnacle, said: 'This is an excellent addition to our joint venture with Pictet. We are excited to add these homes to our portfolio, which provide high quality accommodation for current and future residents.'
Nick Hutchings of A2Dominion, said: 'York Place is one of the most exciting developments in South West London and we are delighted to have finalised the sale to Pictet & Pinnacle.
'We will use all profits generated from the sale to invest in new affordable homes and our communities.'
A2Dominion was advised by Cushman & Wakefield.
