Development firm Native Land has formed a new joint venture with a private Singaporean investor to acquire, manage and operate properties in Prime Central London. 

The partnership will deliver returns through a mix of lettings and unit sales.

Its first acquisition is Eliot House, a recently completed block in Kensington.

The joint venture secured a virtual freehold through the acquisition of a 987-year leasehold interest in the property.

Native Land chief executive Alasdair Nicholls says: “The formation of this joint venture reflects international confidence in London as one of the world’s most attractive and resilient residential investment markets, supported by strong long-term fundamentals and enduring appeal.”

“Eliot House is an outstanding first acquisition and embodies many of the characteristics we will seek in future opportunities. We see significant opportunity in a market characterised by strong occupier demand, diminishing future supply and increasing demand for high-quality rental accommodation.”

Earlier this year, Native Land opened in Hong Kong and New York to establish what it calls “new and support existing relationships with joint-venture partners globally.”