AXA Investment Managers – Real Assets has acquired the 1,233-home Dolphin Square scheme in Pimlico, SW1, from Westbrook Partners.
The deal marks the investor and asset manager’s entrance into the UK private rented residential market, having invested €20bn into the sector globally across 15 countries.
The 7.5-acre site provides 795,990 sq ft of residential space across 13 houses, overlooking a 3.5-acre garden square.
The site presents an opportunity for “wholesale refurbishment over the long-term”, AXA IM-Real Assets said, to “enhance its sustainability credentials and provide a modern environment for tenants to live and enjoy”.
AXA IM-Real Assets European head of transactions, John O’Driscoll, said: “Through this transaction we have secured a rare opportunity to acquire a first class, large scale and iconic residential asset in one of London’s most sought-after areas as a long term investment on behalf of clients.”
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