Sable Capital acquires Hackney Wick BTR scheme

Sable Capital has acquired a residential development in Hackney Wick, E9, from O’Shea Group and Galliard Homes, which are delivering the project. The acquisition was made using funds from its UK BTR fund, which has £255m of equity commitments. Sable is targeting build-to-rent investments in the multi-family, single-family and senior living sectors across the UK. The scheme, known as Wickside, comprises 176 BTR homes across an 8.4-acre site located between Hackney Wick station and the Hertford Union Canal. It is also situated between Victoria Park and the Queen Elizabeth Olympic Park. The development will provide one- to three-bedroom homes, in addition to a range of duplexes and townhouses. The first apartments are expected to be delivered in 2025. Hugo Black, partner at Sable Capital, said: “While rental inflation is cooling, year-on-year rental growth remains historically high compared with the pre-pandemic years. The rolling number of new applications, permissions granted and construction starts across London in Q1 2024 were all more than 60% below their previous peaks, according to Molior. We expect that the lack of supply relative to demand will keep rental inflation at a level above the long-term average, supported by ongoing wage growth.” Sable was advised by BCLP and Cushman & Wakefield; Galliard and O’Shea were advised by Howard Kennedy. See which agents are doing the most deals in the London submarkets with our On-Demand Rankings >> Image from O’Shea Group