Essential Living has put a portfolio of established build-to-rent (BTR) assets up for sale.
The portfolio comprises Union Wharf in Greenwich, Dressage Court in Bethnal Green and Berkshire House in Maidenhead.
The assets provide a mix of apartment types – 8% are studio apartments, 48% are one-bedroom apartments, 35% are two-bedroom apartments and 9% are three-bedroom apartments.
The three assets offer a comprehensive suite of amenities including roof terraces, dining spaces and co-working areas. Two assets feature an onsite gym.
The London-based property developer, owner and operator has put the assets up for sale following a review of its BTR business, which comprises four sites. The fourth asset, Vantage Point in Islington, will be retained for the foreseeable future.
Jeremy Baker, CEO of Essential Living, said: “This portfolio offers an investor immediate scale and a robust income stream within the thriving and undersupplied London rental market. A divestment would facilitate the continued expansion of our PRS platform, HomeQuarters, which currently comprises 27 assets across Greater London.”
Andrew Saunderson, head of residential capital markets at CBRE, which has been appointed to market the assets, added: “We are delighted to be representing Essential Living in the sale of this exceptional portfolio. This is a rare chance to acquire three high-performing BTR assets, with strong ESG credentials, in structurally undersupplied submarkets. These locations benefit from consistent tenant demand and strong rental growth prospects, making this an attractive investment opportunity.”
