Residential Land, one of the largest private residential landlords in Prime Central London, is bringing a slice of Chelsea to market. Peony Court, located in Park Walk, offers a unique residential investment opportunity to own a private, secure, unbroken and gated freehold development in the heart of Chelsea. The scheme has been fully refurbished, is fully let and is now being marketed at circa €46,29m (£40m) representing a potential yield of 3.35%.
Peony Court offers seven fully modernised and luxurious three and four bedroom townhouses (9,313 ft²) and 12 apartments (8,752 ft²) all with some form of outdoor space nestled within a gated, unbroken development. Included within the scheme and fronting Park walk is a 1,136 ft² retail unit which is let to the Little Black Gallery owned by English celebrity Tamara Beckwith. Planning permission has been granted to create an 840 ft² penthouse apartment on the roof of the existing apartments overlooking Park Walk. Residents also benefit from secure underground car parking and car parking permits from the Royal borough of Kensington & Chelsea.
Each residence has been interior designed to the highest specification, using the finest materials and latest ‘smart home’ technology. Luxuries high gloss ‘Intervari’ kitchens, marble bathrooms and engineered timber floors. Each unit benefits from a Creston automation system operated from a Creston touch panel and iPad to control the Samsung LED Smart TVs, 5.1 surround sound, Blu-ray DVD players, security system including CCTV and alarm and Aqua Vision TVs.
Bruce Ritchie, CEO and Founder of Residential Land, said: “Peony Court offers a rare opportunity to own, freehold, a slice of Chelsea delivering an attractive investment with an annual rental value of €1.55m (£1.34m). Prime Central London has an undeniable elegance and with the pound deflated against the dollar Peony Court offers a profitable and unique investment opportunity.
“The one off strategic sale of a modernised and well yielding asset within our portfolio is part of our underlying strategy to release capital and invest in acquisitions where we see the opportunity to generate growth. We invested €579m (£500m) into Central London residential in 2016 and we are looking to spend a similar amount this year, predominately in new build stock, as we continue to see demand for well-located, modern residences.”
Located in the highly sought after “Beach” area of Chelsea, Park Walk runs north to south between the Fulham Road and the King’s Road.
The surrounding area is predominantly residential with a large number of high end boutique retail outlets, leisure facilities and restaurants close by. The Boltons, one of London’s finest residential roads lies just 200 metres to the north west. On Park Walk itself is the Maze Grill owned by the Gordon Ramsay Group, as well as the fashionable Little Black Gallery (which is part of Peony Court itself) and various other restaurants and independent artisanal shops.
The property is well served by road connections with the Fulham Road and King’s Road providing access to South Kensington, Belgravia, Knightsbridge and the West End and the A3 via Putney to the south-west. There are numerous bus routes serving the King’s Road and Fulham Road, with London Underground links provided at South Kensington (Piccadilly, Circle and District lines) approximately 0.8 miles to the north east and Sloane Square (District Line).
The local area is home to a variety of world-famous cultural attractions including the Royal Albert Hall, the Saatchi Gallery, the Natural History Museum and the Victoria & Albert Museum. A diverse mix of cafés, restaurants and fashionable shops add to the area’s appeal. The extremely well regarded French Lycée school is also a moment’s walk away.
Knight Frank and Savills have been appointed to represent Residential Land on this sale.