Brought to you by
logo
In our network
logo logo logo

Addington and Baumont buy £99m London resi portfolio

BauMont Real Estate Capital and its operating partner Addington Capital have paid a private investor £99 million for a residential portfolio in East London.

The portfolio consists of 318 houses and apartments mostly leased to young professionals and families.

This deal follows BauMont and Addington’s joint acquisition of a portfolio of 182 apartments of mainly converted Victorian and Edwardian houses in South London for around £37 million in October 2019.

The latest portfolio is concentrated in Walthamstow and surrounding areas including Leyton, Leytonstone, Barking and South Woodford.

It includes both Victorian and post war accommodation, as well as purpose-built apartments on the Warner Estate.

Addington’s sister company AddLiving, a residential management business, will provide property management services to the portfolio and Addington Capital will manage the assets. 

“We are continuing to look for value-add opportunities in the Greater London residential markets, where we can achieve portfolio discounts and can invest to modernise and improve the living accommodation,” said Matthew Allen, principal of Addington Capital.

“The Greater London market still offers strong fundamentals. The shortage of housing at affordable price points in London remained acute throughout the pandemic and is likely to become more severe as the capital recovers in 2022 and beyond.”

Author: