US investor buys 196 build-to-rent homes in south London

The masterplan, which is being developed by house builder Taylor Wimpey, comprises eight buildings with a mix of private rent, shared ownership and affordable homes.

Principal has acquired two buildings overlooking the River Wandle, which will include roof terraces and an estate concierge. The project is set to complete in 2027.

The investor has also acquired a 66-home building in Clapham, which reached practical completion in November 2025.

The block is part of the 2,500-home Clapham Park regeneration being developed by a joint venture between house builder Countryside Partnerships and housing association Metropolitan Thames Valley Housing (MTVH).

Principal has appointed Pinnacle Investments and Pinnacle Group, both owned by housing association Hyde, to operate and manage the Clapham homes.

Chris Game, fund manager at Principal, said: “These acquisitions reflect our conviction in the UK residential market and our strategy, which focuses on well-located, high-quality assets that offer durable income and downside protection.

“Both investments benefit from strong local fundamentals, excellent connectivity and limited competing supply, making them well-positioned to deliver a quality rental experience for tenants and attractive long-term outcomes for our client.

“The low-amenity operating model is designed to keep costs competitive while meeting occupier requirements, supporting long-term rental growth and resilient income.”

Principal was advised by Newmark on Earlsfield and Harris Associates on Clapham Park. DAC Beachcroft, Greenberg Traurig, Arcadis and Pinnacle Investments also advised.

Taylor Wimpey was advised by Savills and Osborne Clarke. The Countryside Partnerships and MTVH joint venture was advised by Mayfair Private Office with Trowers & Hamlins.