Goldman Sachs-backed senior living platform Riverstone has acquired its fourth site – a 142-flat building from St William, part of the Berkeley Group.
Riverside forward-purchased the site, located within the King’s Road Park development masterplan in Fulham, SW6.
The first residents are expected to move in in 2026. The homes will be a mix of one-, two- and three-bedroom apartments and penthouses.
Riverstone King’s Road will provide 25,000 sq ft of amenity space that will include a restaurant, bar, club room, library, swimming pool and spa, a gym designed for physiotherapy and rehabilitation, espresso bar and cinema.
Martin Earp, chief executive officer at Riverstone, said: “The acquisition of our fourth residence at King’s Road continues to build on the momentum Riverstone has had in 2022, from the acquisition of our third site in Hampstead at the beginning of the year to welcoming our first residents at Riverstone Kensington and Riverstone Fulham.
“Riverstone is establishing itself as a provider of exceptional residences in prime central London and central to our ethos is creating places where people continue to live active, independent and sociable lives.
“There is strong demand for this form of later living, which is only set to increase given the growing population of over 65s in the UK.”
Tom Scaife, head of seniors housing at Knight Frank, said: “Prime central London’s luxury retirement market is growing at an incredible pace, and demand for high-end seniors housing in the city is increasing year on year.
“London’s wealthiest seniors are considering their post-retirement options, and with around £40bn of equity tied up in prime central London residential property owned by those over the age of 65, their ability to invest in luxury seniors housing in the capital is huge.
“This is a hugely important deal for the sector. It demonstrates huge confidence in the capital’s seniors housing market, which is bolstered by growing demand coupled with a lack of supply.”
Knight Frank acted for Berkeley on the deal.
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