Essential Living has put the Berkshire House build-to-rent (BTR) development in Maidenhead on the market.
The 68-unit scheme is located in a 14-storey converted 1960s office tower situated in the centre of the town.
The scheme, which completed in 2018, comprises studio, one- and two-bedroom apartments, and was among the first office-to-residential conversions completed in the UK. The on-site amenity provision includes roof terraces, dining spaces and co-working areas.
The proceeds from the sale will be recycled into Essential Living’s investment strategy, which focuses on income-producing, mixed-use schemes in high-barrier-to-entry submarkets across London.
Jeremy Baker, chief executive officer of Essential Living, said: “Berkshire House has been an important part of our portfolio since 2013, and its performance over that period is a testament to the enduring strength of well-located, purpose-built BTR. This sale reflects our disciplined approach to capital allocation – reinvesting proceeds into income-producing, mixed-use schemes in London’s most supply-constrained submarkets, where we see the strongest long-term fundamentals. Our focus remains on building a portfolio that delivers for both residents and investors.”
Essential Living has appointed Levy and Allsop to market the opportunity.
