Pictet-Pinnacle JV acquires York Place in Battersea for £60 million

Pictet Alternative Advisors, in partnership with Pinnacle Investments, has acquired York Place, a newly developed block of 102 apartments in West London for £60 million from A2Dominion, a leading UK Housing Association.
The JV’s third London residential investment following deals in Limehouse and Silvertown
Brings portfolio to over 300 flats in Zone 1 / Zone 2 inner-city London locations

Pictet Alternative Advisors, in partnership with Pinnacle Investments, has acquired York Place, a newly developed block of 102 apartments in West London for £60 million from A2Dominion, a leading UK Housing Association.

The stabilised income-producing asset comprises a mix of one, two and three-bedroom units for private rent, over ten stories, and is part of the wider Coda Residences development of 275 new apartments. The wider scheme also houses the new London headquarters of the Royal Academy of Dance, and includes two cafés, a performance space and library. The block acquired by Pictet was completed in October 2021 and fully let within three months of launch.

The development is less than 100 metres from the River Thames in one of London’s most desirable areas, Wandsworth Riverside, which continues to attract young professionals due to close proximity to South West London’s bars, restaurants, shops and parks, and excellent transport links from Clapham Junction, Thames Riverside Walkway and shuttle boat services from the nearby Plantation Wharf pier.

This transaction represents the Pictet - Pinnacle joint venture’s second London residential acquisition this year, and third since launching the strategy, following deals in Silvertown in January, and Limehouse in 2020.

A2Dominion was advised by Cushman & Wakefield.

Ed Jackson, Pictet, said: “This attractive apartment block is situated in the heart of South West London’s riverside amenity, and is the third transaction in our London strategy, bringing our portfolio to over 300 apartments. London continues to retain its global primacy drawing capital and talent, but has always suffered from a lack of quality and affordable housing accommodation, which is why we are continuing to invest in newly-built, energy efficient and well-located residential properties.”

Chris Turnbull, Managing Director of Pinnacle, said: “This is an excellent addition to our joint venture with Pictet. We are excited to add these homes to our portfolio, which provide high quality accommodation for current and future residents.”

Nick Hutchings, Executive Director of A2Dominion, said: “York Place is one of the most exciting developments in South West London and we are delighted to have finalised the sale to Pictet Alternative Advisors & the Pictet Group. We will use all profits generated from the sale to invest in new affordable homes and our communities.”

Mark Clegg, Head of Residential Capital Markets UK at Cushman & Wakefield, said: “The PRS market remains buoyant, with a shortage of supply continuing to drive the sector’s growth. High quality, well-located developments like York Place are in huge demand from institutional investors and continue to achieve record pricing in an ever-increasingly active market. It was a pleasure to represent A2Dominion during this significant deal with Pictet / Pinnacle and play a key role in its completion.”