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Issuer: P&P London
/ Key word(s): Real Estate/Expansion
London, 07 June 2024 - P&P London, a property investor and developer, has acquired -developer acquires four more flats in a prime location in London. The units, measuring between 71 and 91 square metres in Mayfair, are now undergoing a high-quality refurbishment. ‘We are making the most of the property's great potential with a luxurious fit-out,’ explains Michael Peter, founder and Managing Director of P&P London: ‘We are creating first-class offers for second homes in the city centre at this prime location. There is hardly a better location in London.’ 27 Bolton Street in Mayfair is just a few minutes' walk from Green Park and is also surrounded best restaurants, bars, luxury boutiques and some of the world’s most distinguished galleries. Peter: ‘Comparable development opportunities in such prime locations are extremely rare. So we can be extremely proud of this success of P&P London.‘ The developer, which focuses on London, was founded in 2023 as a spin-off of the German P&P Group.
The renovation work will be completed by autumn this year and the sale of the flats will then begin. Michael Peter is certain that demand will be high: ‘The location combines tranquillity and local recreation with close proximity to culture, leisure highlights, shopping and restaurants. The Green Park underground station also offers excellent public transport links.‘ ‘The clear aim of these flats is to combine the comfort of a five-star hotel with the rich design history of Mayfair,” explains Michael Peter: “We will succeed in doing this because we are working with the talented interior designer Tabitha Isobel on this project. In addition to the high-quality furnishings, she will also provide the units behind the historic façade with as much light and space as possible. ‘ This is not the first investment in Mayfair for the P&P team led by Managing Director Michael Peter since its launch on the London market in late summer 2023. A flat acquired in 2023 at 68 South Audley Street, not far from the new investment location, with around 160 square metres of living space has just been renovated and the sale launched. In total, P&P London has invested a significant double-digit million sum in Mayfair, Notting Hill, Knightsbridge, Lambeth and Chelsea in just under a year. ‘This latest purchase is further proof of how well we have already established ourselves in this particularly interesting property market,’ says Peter. In total, P&P London is set to invest £ 100 million in 2024. The focus will be on complete houses and individual flats both in outstanding super-prime locations in the City and in up-and-coming areas throughout the Greater London metropolitan region. ‘We want to be active in all relevant residential segments in London, especially in prime locations,’ says the P&P London Managing Director: ‘This will anchor our brand in the UK residential market in the long term.’ There are currently good investment opportunities there, thanks to the market consolidation that can be observed in many areas. These phases are very rare in London." P&P London has sufficient equity capitalisation for investments to be able to react flexibly and, above all, quickly.
P&P London is a spin-off of the P&P Group founded in 2023 and develops, revitalises and markets residential and mixed-use properties in the London. As an initiator, investor and asset manager, P&P London covers all areas of the value chain. Its core competencies include the revitalisation and modernisation of buildings. P&P London can also draw on almost 30 years of development experience through its associated German-based company P&P Group with its Real Estate Germany division.
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