UK: Build-to-Rent brand Kooky has added two apartment blocks to its portfolio for occupation in 2022.
Build-to-rent (BTR) brand Kooky has acquired two Hertfordshire apartment blocks for £20.5 million as the company continues to assemble a portfolio of properties in locations surrounding London.
The 999-year leaseholds of the two buildings, which comprise a total of 66 units, form part of Bellway’s Goodsyard development in Bishop’s Stortford. The Goodsyard buildings include 28 one-bedroom units, 37 two-bedroom units, and one 1,240 square feet three-bedroom apartment.
Currently under construction, the unit will be available for occupation in Q2 2022. The Goodsyard scheme comprises five buildings in total and is located adjacent to Bishop’s Stortford station. Together with its purchase of Buckingham House in High Wycombe towards the end of last year, Kooky has invested more than £40 million in BTR in the current quarter.
Howard Crocker, managing director of Kooky, said: “Despite the ongoing lockdowns, we are seeing growing demand for the BTR market, especially as more and more people are seeking an opportunity to live on the outskirts of London to gain additional space and a better quality of life. Bishop’s Stortford is the ideal commuter belt town, and its proximity to the capital and Stansted airport are key drivers of demand for wanting to live in this area.”
Greg Allsop, sales and marketing director at Bellway North London, added: “The forward purchase of Blocks A1 and A2 by Kooky allows us to concentrate on the private sale apartments in the development, confident in the knowledge we have a great partner whose ambition complements our own. Kooky’s boutique approach to the BTR sector is innovative and adds to the overall appeal of Goodsyard.”
