Kooky acquires £22.1m Staines apartment block

Our client Kooky recently enjoyed a fantastic piece of coverage in Estates Gazette.

The article covered Kooky’s recent acquisition of a 70-unit apartment block in London Square’s Staines upon Thames development for £22.1m. The brand-new apartment building will be the first Kooky building to come to market, and they are expecting to move in their first crop of tenants next month.

This acquisition forms part of Kooky’s wider plans to shift away from the traditional forward funding model in favour of investing solely in already built assets. With this renewed approach, the Delph-owned build-to-rent brand aims to grow its portfolio to a value of £500m within the next four years.

Kooky will be targeting schemes of 70 to 300 units in regional city centres or within an hour’s commute of London, forgoing expensive amenities in favour of competitive rents.

Howard Crocker, managing director at Kooky, said:

“To grow Kooky, our strategy going forward will be to concentrate on buildings that are already under construction and which can be bought complete and ready for branding.”

If you have an EG subscription, you can read the article in full here.

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