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Kooky acquires two buildings to build BTR portfolio

By Jessica Newman Property Week Thursday 4th February 2021

Boutique build-to-rent (BTR) brand Kooky has acquired two more apartment blocks for £20.5m 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, Hertfordshire.

The Goodsyard buildings include 28 one-bed flats, 37 two-bed flats, and one 1,240 sq ft three-bedroom apartment. Currently under construction, the flats will be available for occupation in Q2 2022.

Together with its purchase of Buckingham House in High Wycombe towards the end of last year, Kooky has invested more than £40m in BTR in the current quarter. The Goodsyard scheme comprises five buildings in total and is located adjacent to Bishop’s Stortford station.

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.”


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