LONDON, October 20. /PRNewswire/ Warwick Investment Group has acquired a private gated development of nine freehold houses in London's Belgravia as part of its residential strategy to consolidate residential properties in the UK.
St Barnabas Mews is a strong complement to Warwick's value-add strategy which is focused on creating spaces suitable for long-term rental, adapting properties for post-pandemic living with additional outdoor areas for residents to enjoy year-round. These properties have top tier environmental ratings and Warwick has committed to future capex to achieve the highest possible energy efficiency by the end of 2022.
St Barnabas Mews is one of three acquisitions Warwick has recently agreed to purchase, comprising 50 units in Mayfair and Belgravia. The firm believes they are now one of the largest private landlords in Belgravia.
The development consists of nine freehold houses in a gated mews with underground parking in the heart of Belgravia developed in 2008.
Warwick will pro-actively manage the houses under its own rental brand and plans to take advantage of ongoing refurbishment opportunities across the portfolio.
Andrew Chrysostomou, UK Senior Managing Director:
St Barnabas Mews benefits from outdoor space and secure underground parking within the setting of a private gated mews. Combined with its prime location within Belgravia and walking distance to both Elizabeth Street and the King's Road, we believe that these assets are well positioned to capture the increase in rental demand following the easing of travel restrictions and the phased return to the office.
Kate Richard, Founder and CEO:
St Barnabas Mews is a perfect complement to our portfolio for its size, location and potential enhancements. The property matches exactly what we are seeking to consolidate in our UK residential platform. We are thrilled to add this freehold portfolio, which has not traded for over 300 years, to our multifamily platform as we consolidate real estate product in central London under our residential rental brand.