PATRIZIA AG, a leading partner for global real assets, has on behalf of its institutional clients invested in a turn-key build-to-rent (BTR) development in Reading for an undisclosed sum.

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Olivers Place is a collection of 281 high quality BTR properties comprising a mix of one, two and three-bedroom apartments. The homes have been acquired from award-winning housebuilder Berkeley Homes, who will deliver Olivers Place in four phases as part of its larger Huntley Wharf development on the banks of the River Kennet. The first residents are scheduled to move into Olivers Place in 2024, with the final phase set to complete in 2025. Each property will come fully fitted and be finished to Berkeley Homes’ high standards of design and specification.

“Our development partner in Berkeley Homes is renowned for its expertise in sustainable placemaking and its hallmark of quality when delivering new homes in the UK,” said Antonio Marin-Bataller, Director, Pan-European Transactions at PATRIZIA. “Our investment in Olivers Place brings this high standard into our residential portfolio to provide an excellent asset, both for our tenants and our clients, that has the potential to deliver on our overall performance targets for investors.” 

“Not only does Reading represent a huge opportunity for high specification BTR accommodation as the economic capital of Thames Valley; but it is also a major hub for finance and technology firms, has a top 30-ranked university and benefits from strong connections to London, which will only improve next year with the opening of Crossrail,” Marin-Bataller added.

A market-leading asset for PATRIZIA

Residents will enjoy riverside living and have access to a range of on-site amenities, including a landscaped podium garden, concierge service and co-working studio. There will be 131 car parking spaces and in line with PATRIZIA’s focus on sustainability, it will provide a number of electric vehicle charging points. A nursery and other flexible commercial units will be available to the wider Huntley Wharf community in keeping with PATRIZIA’s philosophy of building sustainable communities.

Situated on the River Kennet, opposite Chocolate Island, Olivers Place is located less than one kilometre from Reading town centre and the national railway station. Trains from Reading to London Paddington take just 23 minutes, while the arrival of the Crossrail train service in H1 2022 will provide residents with direct travel to Liverpool Street and Canary Wharf. 

CBRE acted on behalf of the vendor. Campbell Gordon and Haslams Estate Agents acted as commercial advisors to PATRIZIA, with K&L Gates as its legal advisors.

PATRIZIA: A leading partner for global real assets

As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 37 years. PATRIZIA manages more than EUR 48 billion in assets and employs over 800 professionals at 24 locations worldwide. PATRIZIA has been impact investing since 1984. And through the PATRIZIA Children Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 21 years.

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