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Invesco Ploughs £400M Into London Build-To-Rent Market

Brentford's new stadium and the EcoWorld and Invesco residential development.

Invesco Real Estate is the latest institutional investor to make a big bet on the London rented residential sector.

The U.S.-based fund manager has teamed up with Malaysian developer EcoWorld International and will fund the firm’s 1,000-unit build-to-rent development pipeline.

The apartments are split across two sites: in Kew in west London, near the new stadium of Brentford Football Club, and Barking in east London. EcoWorld acquired the sites when it bought a 70% stake in Wilmott Dixon’s residential business Be Living last year.

Canadian investors Oxford Properties and CPPIB have recently made major investments in the London BTR sector, joining investors like Dutch pension fund APG, U.K. institution M&G and sovereign wealth fund the Abu Dhabi Investment Authority as funders of the sector.

Invesco launched a £250M rented residential fund in 2016.

“In the future we will seek to do more deals of this kind and we have already received expressions of interest from other funds, particularly from Asia, keen to pursue potential investments into the U.K. build-to-rent sector,” EcoWorld International Executive Vice Chairman Tan Sri Dato’ Sri Liew Kee Sin said in a statement.