Principal Asset Management has acquired three multifamily residential buildings in Queen’s Park, northwest London, from Vistry, the U.K.-based mixed-tenure developer, on behalf of a separate account client. The acquisition comprises 143 residential units across three newly built blocks forming part of the North West Quarter development.
The investment has been structured as a combination of a standing acquisition and forward commitments. One of the three buildings recently reached practical completion and has been acquired as a turnkey investment. This block will be launched to the rental market this summer. The remaining two buildings are being forward purchased and are under construction, with completion expected in fourth quarter 2026.
The North West Quarter scheme, being delivered by Vistry as part of its partnerships model, forms part of the wider South Kilburn master plan being delivered by the London Borough of Brent. The development will deliver 553 new homes
