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Colliers advises new BTR joint venture on acquisition of 121-apartment development in Kings Cross

12 11 21 Colliers advises new BTR joint venture on acquisition hero

Colliers has advised the newly formed joint venture between BlackRock and Outpost Management on the acquisition of its first build to rent (BTR) venture at 101 Camley Street.


The new partnership will build a £500 million portfolio of UK BTR assets in response to the increasing pressure in the market for residential assets. Camley Street in Kings Cross has been bought from LabTech Investments and comprises 121 flats, 30,000 sq ft of flexible workspace and will be developed to include a gym, a “sky lounge”, a private dining room and co-working zones.  

Paddy Allen, Head of Operational Capital Markets at Colliers, comments: “There’s no denying that there is a weight of capital looking for exposure to the BTR and residential sectors at the moment andwe are pleased to have advised the new venture on an asset where there is the opportunity to create something really special in a highly sought-after location.”

Andrew Stanford, Head of BTR at Colliers, adds: “With London rents having climbed back quickly to pre pandemic levels and with more growth ahead, it’s a great time for this acquisition to complete. BTR continues to be an attractive asset class for investors and shows no sign of slowing in London and the UK regions.” 

Colliers advised alongside Simmons & Simmons and Hollis.

View our Build to Rent services


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Paddy Allen

Director

National Capital Markets

London - West End

Paddy has over 16 years of real estate experience having spent his early career in European fund management before joining Global Student Accommodation as an early employee and leading the acquisition of £1bn of student accommodation across UK & Europe. 

Paddy advises a range of investors and developers on transactions, joint ventures and operations predominantly across student accommodation, build to rent and co-living. 

Paddy joined Colliers in 2021.

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As Head of Build to Rent at Colliers, Andrew leads a successful team in helping developer and investor clients to capitalise on BTR's anticipated, post pandemic, rapid growth.

Andrew is an accomplished leader in the UK's living sector with a strong 30 year performance track record, including Build to Rent. This has been achieved by combining:

• An exceptional knowledge of residential investment and asset management.
• Substantial strategic and political policy influencing capabilities.
• Strong leadership and third party management skills. A great team player.
• Significant business and board level experience.
• Excellent communication skills. A highly competent and persuasive speaker and presenter.
• An extensive and carefully curated senior level network.
• A keen eye for design, what generates return and what doesn’t.
• A determination to work for organisations/clients producing a positive social impact.

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Alex Kemp

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I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, and work with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

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