Pembroke acquires The Lark BTR scheme in Nine Elms

Pembroke acquires The Lark Build to Rent development in Nine Elms, its first European residential acquisition.

The Lark BTR scheme in Nine Elms, acquired by Pembroke | BTR News
The Lark BTR scheme in Nine Elms, acquired by Pembroke.

International real estate advisor Pembroke acquires The Lark Build to Rent scheme in Nine Elm, London from Europa Capital. The transaction marks the company’s first European residential acquisition.

Located close to Battersea Power Station, The Lark is a premium Build to Rent scheme consisting of three interconnected buildings. The scheme is targeting BREEAM excellent, and each apartment will have an EPC rating B. The development will also be connected to a district heating network for efficiency.

The Lark – managed by Allsop – includes 195 high-quality homes – a mix of studio, one-, two-, and three-bedroom apartments, ideal for families and young professionals. Part of the development is also made up of an affordable housing section, which is handled by Paragon.

Apartments feature fitted wardrobes in every bedroom and prime kitchen appliances, and residents have the option to choose fully furnished apartments which include John Lewis furniture packs. All homes will also benefit from private outdoor space.

Amenities at The Lark includes a fitness studio, coffee bar, cinema room, co-working lounge, private meeting room and communal gardens. Residents also benefit from an array of community activities and a full events calendar. Residents will also benefit from additional local development, including a Primary school and nursery due to be completed in 2025.

“We are delighted to have completed the acquisition of our first residential asset in Europe, as we continue to diversify our global real estate portfolio. As a business that acquires, develops, and manages mixed-use environments across the world’s leading cities, we are well positioned to meet the demand for high-quality, well-located living space, rich in amenity and able to meet our customers’ hybrid working-from-home needs.”

Matthew Knight, Vice President, European Development and Head of UK, Pembroke

Nine Elms represents the largest regeneration area in London, with 6.5m sq ft commercial accommodation in Zone 1, anticipated to bring 50,000 jobs to the area. The area also benefits from the recently completed extension of the Northern Line.

The Lark is situated by the Thames with direct transportation links to London’s West End and South Bank. Battersea Power Station underground and Vauxhall Station are within walking distance, and Battersea Park and Clapham Common are just a stone’s throw away. 

“Our long-term focus is on exploring further residential investment opportunities in our existing core markets to meet this increased demand and undersupply for premium living space. The Lark exemplifies this strategy; London is a city which Pembroke is deeply engrained with, and the asset benefits from core fundamentals including strong sustainability credentials, a wide variety of amenities, as well as its proximity to major transport links and employment hubs. We therefore believe our global portfolio and the depth of local knowledge makes us well placed to increase our exposure to further residential investment opportunities.”

Matthew Knight, Vice President, European Development and Head of UK, Pembroke