Beauchamp Estates has sold nine apartments in Notting Hill's The Pembridge development (pictured) in a single transaction worth almost £11m, one of the largest bulk London property investment deals completed in 2026, as prime rental values across the capital reach a five-year record high.
The Pembridge sits on the corner of Notting Hill Gate and Pembridge Gardens. The five-storey boutique development, part refurbishment and part new build, provides 19 apartments offering one to three bedrooms. It occupies a site that formed part of the former London premises of James Keller & Son, the Dundee marmalade and cake manufacturers.
The buyer, an Asian investor working in the hospitality industry, initially purchased a single apartment at the scheme as a rental investment. Having tested the lettings market with that first acquisition, the investor returned to buy the remaining nine apartments in a single transaction through Beauchamp Estates.
The building was completed in late 2024, designed by award-winning architectural practice Stiff + Trevillion for a London boutique developer.
The development has a notable history. The mixed-use scheme preserves the site's original Victorian terrace, built around 1858, including a historic "Dundee Marmalade" ghost sign on its façade. The corner apartment building, which dates from 1934, was fully redeveloped, modernised and re-clad in Portland stone with ground floor retail premises.
The landmark site was originally connected to James Keller & Son, Scotland's oldest marmalade company, which traces its roots to the 1760s. The company opened a factory at Tay Wharf in Silvertown in 1888, producing Dundee marmalade, Dundee cakes and other preserves, with its Notting Hill premises opening around the same time.
Bulk deals accelerating
The Pembridge transaction is the latest in a run of major bulk residential investment deals in London. Two earlier deals in H1 2026 had a combined sales value of £67.39m, with multi-millionaire Gulf buyers acquiring multiple luxury homes in apartment buildings on Curzon Street and Conduit Street in Mayfair for rental investment and as long-term assets. Combined with the Notting Hill deal, the three transactions approach a total of £80m, compared with just one bulk deal worth £16m in H1 2025.
A key driver of this activity is a tax advantage available to buyers purchasing at least six properties in a single transaction. Such deals can be classified as non-residential transactions by HMRC, attracting a 5% stamp duty rate rather than the standard 12%.
"Having purchased one apartment at The Pembridge as a rental investment, the quality of the building and rising rental values across London encouraged our client to buy the remaining nine apartments in the development," said Vlad Viaryshka, senior super-prime sales negotiator at Beauchamp Estates.
"As the supply of prime London rental properties has fallen set against rising demand, there has been a rise in lettings values achieved which is now enticing discerning investors to enter the market and agree bulk rental investment deals."
Rental values and market context
The backdrop for this upturn in investment activity is a sharp rise in prime London rents. Beauchamp Estates' bi-annual Millionaires Letting in London Survey shows average lettings values for luxury London houses and mansions reached £4,177 a week (£217,204 per annum) — a 67.15% rise on the 2025 figure of £2,499 a week (£129,948 per annum) and above the 2024 equivalent of £2,715 a week (£141,180 per annum).
Average luxury apartment and penthouse rents have risen to £1,957 a week (£101,764 per annum), up 15.12% on 2025, when the figure was £1,700 a week (£88,400 per annum).
Demand from overseas tenants is a significant factor. Middle East applicants seeking to rent luxury London homes rose 30% during 2026, American applicants were up 20%, and Chinese applicants up 5%.
Notting Hill, despite remaining popular with American and European tenants, has seen supply contract sharply. The area recorded 59 lettings deals for values above £1,000 a week in H1 2026, down from 115 in H1 2025. The 2026 deals included one of the most expensive luxury London lettings of the year — a grand Notting Hill townhouse let by Beauchamp Estates for £25,000 a week on a long let (£1.3m per annum).
The Pembridge is well placed for the area's amenities, sitting on the doorstep of Notting Hill and Portobello Road's boutiques, cafés and restaurants, with Notting Hill Gate underground station — served by the Central, District and Circle lines — within walking distance. Close proximity to the Kyoto Garden in Holland Park adds to its appeal, along with the area's broader cultural draw, from Portobello Road Market to the Notting Hill Carnival, Europe's largest street festival, held annually each August.
"For landlords operating in the London market they are seeing rising demand, falling competition and rising rental values," said Jeremy Gee, managing director at Beauchamp Estates.
"The capital's premium rental market is being driven by wealthy tenants from the Middle East, America and the domestic UK market, who need a London base. The latest Millionaire's Letting in London Survey data shows that landlords with well-maintained turn-key homes in sought-after areas are in exceptionally good positions and can command and achieve great rental values with the additional benefit of low void periods."
