Aberdeen Asset Management has paid £60m for a single piece of residential property as it grows its investment in the private rental sector.
Number 180 Stratford High Street, a 166-unit 122,500 sq ft residence overlooking the Olympic Park, E20, has a rental roll of approximately £3m, a net yield of 4.91%.
The purchase takes Aberdeen’s total rental units in the UK to more than 500 with a total value of more than £110m as at 28 February.
The company intends to grow its UK residential assets by £500m over the next five years to add to the European portfolio which it has built.
European assets at the firm total £1.2bn in value with more than 7,000 units either under development or currently managed.
