Schroders snaps up London serviced apartment buildings for £32.4 million

George Sell By George Sell
10 March 2016 | Updated 10 March 2016

UK: Schroder UK Real Estate Fund has bought two serviced apartment buildings at High Point Village in west London from Ballymore for £32.4 million.

The two connected buildings near Heathrow are both let to Staycity on 25-year leases. Staycity began trading from the site in 2012 and operates 269 rooms.

Schroder UK Real Estate Fund manager James Lass said: "This acquisition fits perfectly with our fund-wide strategy to capitalise on the strong growth we are seeing across London's 'emerging' markets. The major regeneration drive already underway in and around Hayes will be further boosted by the arrival of Crossrail and we are confident that this will contribute to long-term, sustained demand in the area."

www.schroders.com
www.staycity.com

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