Glenwell Group has acquired a PRS apartment block in central London from Grainger for £17m.
The freehold 33,000 sq ft block at 92 Middlesex Street, E1, close to Liverpool Street station, contains 30 flats. It was previously held in Grainger’s GRIP fund.
Glenwell plans to refurbish the flats, which it obtained with vacant possession.
The deal is Glenwell’s second purchase this year, following the acquisition of the Royal National Throat, Nose and Ear Hospital site in King’s Cross in a joint venture with residential developer Groveworld for around £55m .
Privately-funded Glenwell has more than 1,000 homes across the UK and Europe, with major holdings in London and Barcelona.
Savills and LVK Property Advisors advised Glenwell; CBRE advised Grainger.
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