An investor has bought a set of 23 Mayfair apartments from Grosvenor for £37m.
Acting on behalf of an Asian UHNWI, Anglo Fortune Asset Management has acquired Peterson & Darley – a quartet of adjoining buildings on Gilbert Street – on a freehold basis with plans for a super-prime PRS scheme.
An “extensive” rolling programme of refurbishment is due to begin in Q4 of this year.
The units join Anglo Fortune’s existing London PRS portfolio, which is valued at around £150m.
Also involved in the deal were agents Knight Frank, and lawyers Hamlins (buyer) and Boodle Hatfield (vendor).
Jamie Cozens, Managing Director of Anglo Fortune Asset Management: “We were tasked to find a super-prime legacy investment for one of our existing clients at the start of 2020 and we are delighted to have been able to secure this beautiful piece of London heritage on their behalf. We will now begin an extensive rolling refurbishment program to transform the apartments into luxury accommodation tailored to the premium Mayfair lettings market.”
Developers and investors are increasingly eyeing opportunities at the top-end of the capital’s rental market. Just last month, The Olayan Group and Chelsfield announced plans to deliver “the stand-out build-to-rent scheme in Prime Central London” as part of their redevelopment of The Knightsbridge Estate.
