Residential Land to sell Peony Court, SW10

Residential Land has put Peony Court in Chelsea, SW10, on sale with an asking price of £40m – reflecting a yield of 3.35%. Peony Court, which overlooks Park Walk near King’s Road, includes seven three- and four-bedroom townhouses, 12 flats and 1,136 sq ft of retail space let to a boutique photography gallery. Planning permission has also been granted for an 840 sq ft penthouse apartment on the existing property. The site’s annual rental value is £1.3m. Residential Land said the sale is part of its strategy to release capital and invest in assets it believes has opportunities to generate growth. It expects to invest £500m in new-build residential assets in central London this year. Bruce Ritchie, chief executive 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 £1.3m. “Prime central London has an undeniable elegance and with the pound deflated against the dollar, Peony Court offers a profitable and unique investment opportunity.” • To send feedback, e-mail karl.tomusk@estatesgazette.com or tweet @ktomusk or @estatesgazette