Prudential Moves into Houses

The Prudential’s property arm, Prupim, has bought more than 500 homes in a £105.4m deal that could open the floodgates for big City institutions to invest in private rented housing.

Prupim exchanged contracts to buy the portfolio of 534 homes in London and the south east from Berkeley Group. Savills will take on the day-to-day management of the properties and Berkeley will be a minority investor.

Source: The Daily Telegraph

We say: We make that an average of around £200,000 a home. And, as they’re in London and the South-East, that makes them pretty much the sort of properties which first-time buyers might be looking at.

We can’t help thinking that in the middle of a recession, with pressure on incomes, lenders demanding sizeable deposits, and burdened with student loan repayments, the last thing the poor beleaguered first-time buyer needs right now is institutional investors piling in to vacuum up homes by the hundred and prop up prices.

Still, that’s free enterprise for you: you have to take the rough with the smooth…

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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