This multifamily building in Ilford comprising 294 residential apartments and three commercial units represented a unique opportunity for an investor to acquire one of the first stabilised and professionally managed PRS assets at scale, in London.
Savills engaged in a comprehensive marketing campaign, targeting known institutional investors with existing assets in the UK and a desire to build their portfolio, as well as a wealth of overseas capital.
Following a highly managed and targeted marketing campaign, including the commissioning of bespoke research to support pricing and creation of a suite of high quality marketing collateral including a drone video and detailed Investment Memorandum, parties were invited to submit first round bids as part of a competitive process in November 2019. A second stage followed shortly after, with a preferred bidder selected and financial close achieved in January 2020.
Savills successfully advised Kennedy Wilson Europe on the disposal of Pioneer Point, our landmark multifamily building in Ilford. Throughout the process the breadth of the Operational Capital Markets team was clear to see. Savills significant market share in the Build to Rent and wider Residential Investment sector was key to our decision to appoint them. Our experience in working with Savills was a positive one and one which we would happily repeat.
Kennedy Wilson Europe