P&P London acquires another property in the sought-after Notting Hill district of the British capital and uses the great potential of its prime location with a luxury refurbishment
Issuer: P&P London / Key word(s): Real Estate/Expansion
26.02.2024 / 10:42 CET/CEST
The issuer is solely responsible for the content of this announcement.London, February 26, 2024. P&P London has announced the acquisition of yet another prime property in the heart of London, adding to its rapidly expanding development portfolio. This property, located in the prestigious Notting Hill area within the Royal Borough of Kensington and Chelsea, boasts around 5000 square feet of net living space. Situated on Strathmore Gardens, a favoured, quiet residential street. This imposing Victorian double fronted terraced house will have an extensive restoration to. A stunning, spacious family home,
Michael Peter, the founder, and Managing Director of P&P London, elaborates, "The refurbishment will allow us to fully unlock the potential of this property." Established in 2023 as a subsidiary of the German P&P Group, P&P London focuses exclusively on investments within the British capital.
The location of the newly acquired property is exceptional, with Hyde Park, Kensington Gardens, and the bustling Kensington High Street just a short stroll away. Notting Hill Gate station, servicing the Central, District, and Circle lines, is also just a short walk from the property providing convenient access to various parts of London, including the West End. Phil Kapur, the Land Acquisition Director of P&P London, highlights the property's rarity, including an internal garage, a much-coveted amenity by Prime Central London standards, enabling swift access to both business and personal engagements by car if desired.
Since its launch in late summer 2023, P&P London, under the leadership of Managing Director Michael Peter, has invested significantly in prime London locations such as Knightsbridge, Mayfair, Lambeth, and Chelsea, totalling investments in the double-digit millions in just over six months. "The acquisition in Notting Hill further underscores our highly successful inaugural phase in this dynamic property market," notes the Managing Director.
In 2024, P&P London aims to continue its strategic acquisitions with a planned investment of approximately £100 million, focusing on residential led development opportunities, restoration and modernisation of complete houses and individual flats in both premier City locations and emerging areas across the Greater London metropolitan region. "The Notting Hill property aligns perfectly with our strategy," emphasizes Michael Peter. "We operate across all relevant residential segments in London, including prime locales."
Capitalizing on the current favourable investment landscape in the British capital, Michael Peter explains, "London's property market historically trends upwards, making the current consolidation phase a unique buying opportunity." Thanks to P&P Group's foresight and robust financial standing, P&P London possesses the agility to swiftly seize such opportunities. The Notting Hill transaction, completed within days using solely equity funds, underscores this capability. Peter concludes, "Extensive due diligence was crucial, and our established London infrastructure facilitated the rapid realization of the Notting Hill project."
Anticipating a resurgence in London's property market, Peter remains optimistic "Rents are already increasing, signalling an imminent upward trend. Our investment in Notting Hill positions us to capitalize on this resurgence."
*P&P London *is a spin-off of the P&P Group founded in 2023 and develops, revitalises and markets residential and mixed-use properties in the UK capital. As an initiator, investor and asset manager, P&P London covers all areas of the value chain. Its core competencies include the revitalisation and modernisation of buildings. P&P London can also draw on almost 30 years of development experience through its associated German-based company P&P Group with its Real Estate Germany division.
*Press Contact:*
Luzia Winkler
Isaak-Loewi-Straße 11
90763 Fürth
Tel.: +49 (0)911 – 766 06 146
Mail: l.winkler@pp-group.com
Wolfgang Ludwig
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50829 Köln
Tel.: +49 (0)221 – 292 19 282
Mail: mail@ludwig-km.de
Kontakt UK
Alia Moteleb
7 Cavendish Place
London, W1G 0QB
Tel.: +44 20 3179 3100
Mail: info@pp-london.com
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