Jamie Ritblat’s London-based property firm Delancey has partnered up with HNW family investment office Sandaire to launch a new service “focused on delivering bespoke UK real estate investment advice to Asian investors and international family offices.”
Mount Kendal, as the new operation is known, “will consider transactions of all sizes with a UK geographic focus” for “significant families”, offering up “acquisition strategies and innovative asset management initiatives” to Asian money, covering the full range of real estate assets from single residential properties through to full commercial portfolios.
Sandaire started life in London in 1996 to manage the wealth of the Scott family, following the sale of Provincial Insurance and Exeter Bank. It has since expanded to offer similar services to other high net worth families and foundations, and opened a Singapore outpost in 2012. The firm joined forces with the similarly-illustrious multi-family office Lord North Street in 2014, and now manages wealth for some pretty highfalutin surnames as well as for a few Oxbridge colleges.
Delancey’s been going for more than 25 years, investing and developing properties across London and the UK. Projects include Elephant & Castle Shopping Centre and 185 Park Street on the South Bank. The firm is also behind 3,000 PRS units at the former London 2012 Athletes’ Village (now East Village), and the development of the former Olympic Press and Broadcast Centre into a “creative and digital hub” called Here East.
“We feel that this is a timely moment to launch Mount Kendal in an unsettled world, to enable Asian families and investors to make the most of the current opportunities in UK real estate.”
Alexander Scott, Founder and Chairman of Sandaire: “We think there is an opportunity to serve the needs of significant families who want direct exposure to real estate. The service that we’re going to offer is a bespoke response to the requirements of the family offices and investors that we work with. That’s different than anything else we think is in the market place. The critical thing is that we are offering a service, not selling a product. We are helping families to understand what it is that they want and then we’re going to deliver a service based on those principles”.
Jamie Ritblat, Founder and Chairman of Delancey: “Asia is clearly the dominant force as we look forward to the next ten to 15 years. There continues to be a lot of capital coming from Asia directed at Western Europe. London looks stable and quite compelling on a relative basis, albeit there is a little bit of uncertainty, but is very unlikely not to remain the capital city of Western Europe. We feel that this is a timely moment to launch Mount Kendal in an unsettled world, to enable Asian families and investors to make the most of the current opportunities in UK real estate”.