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UK: Principal Asset Management has adding 143 BTR apartments to its growing housing portfolio with the acquisition of three residential buildings in north-west London from housebuilder Vistry.
The buildings are located within the North West Quarter development in Queen’s Park and consist of a combination of one-, two- and three-bedroom apartments. One of the buildings has already been completed, while the other two are under construction. They are expected to be finished by the end of this year.
There will also be a variety of shared amenities available for residents, including roof gardens, courtyards and communal areas.
The acquisition strengthens Principal Asset Management‘s relationship with Pinnacle Investments, which has been appointed to manage the residential properties.
Chris Game, fund manager at Principal Asset Management, said: “This acquisition reflects our continued conviction in the UK residential market and our focus on well-located, high quality assets that can deliver durable income.”
The development is located close to Lonsdale Road, a popular area known for its mix of shops, restaurants and leisure venues, helping to support long-term rental demand.
North West Quarter is also part of the wider South Kilburn regeneration project, which is bringing new homes, community facilities and amenities to the area.
Highlights:
• Principal Asset Management has acquired three residential buildings at the North West Quarter development in Queen’s Park, adding 143 apartments to its London housing portfolio
• Located in north-west London, the development comprises one, two and three-bedroom apartments across three buildings, with two blocks due for completion later this year
• Residents at North West Quarter will have access to shared amenities including roof gardens, courtyards and communal spaces
• The acquisition expands Principal Asset Management’s relationship with Pinnacle Investments, which has been appointed to manage the residential properties
• Part of the wider South Kilburn regeneration project, North West Quarter is helping deliver new homes, community facilities and amenities in the area
