Partner Article

Henderson Park makes first steps into London PRS with £140m Barratt portfolio

Real estate investment platform Henderson Park has made its first investment into the capital’s private rented sector (PRS) after acquiring a 172-home residential portfolio with Greystar.

The pair have paid £140.5m to acquire the portfolio from Barratt Developments, which includes 29 units at Aldgate Place, 25 in the West London Fulham Riverside development, as well as the forward purchase of a tower at Nine Elms Point in London Southbank.

It marks the first time that Henderson Park, which is helmed by Nick Weber, has invested in London’s PRS market since it launched last September with $500m backed by headline partners Stone Point Capital, Kuwait Investment Authority and Wafra Investment Advisory Group.

Following confirmation of the deal, Weber, commented: “Our acquisition of this significant central London residential portfolio from one of the UK’s preeminent housebuilders in Barratt, offers us the rare and sought-after opportunity to immediately gain meaningful access and critical mass in the UK’s highly appealing private rented sector.

“In Greystar we’ve secured an unrivalled partner to help us effectively deliver the high quality rental experience that the London market has long been waiting for.”

The properties themselves will be available to rent from Greystar, with the firm also providing management services for the 172-units.

Mark Allnutt, Managing Director Multifamily at Greystar added: “We’re delighted to secure this portfolio of exceptional properties from one of the UK’s most respected housebuilders and in partnership with such an experienced investment team as Henderson Park.”

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