In one of the largest single rental investment deals done in London during 2026, Beauchamp Estates has sold nine apartments in The Pembridge development in Notting Hill in a single transaction worth almost £11 million, as the capital’s rental values hit record levels.
The Pembridge, on the corner of Notting Hill Gate and Pembridge Gardens, is a five-storey boutique development, part refurbishment part new build, providing 19 apartments offering 1-3 bedrooms, located on a site that was 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, originally purchased a single apartment at The Pembridge as a rental investment. Having tested the London lettings market with that first purchase, the investor via Beauchamp Estates acquired the remaining nine apartments in the 19 unit building in a single transaction.
Completed in late 2024, The Pembridge apartment building was designed by award-winning architectural practice Stiff + Trevillion for a London boutique developer. The mixed-use scheme reuses the site’s original Victorian terrace, built in circa 1858, preserving a historic “Dundee Marmalade” ghost sign on its façade, while the corner apartment building itself (dating from 1934) was fully redeveloped, modernised and re-clad in Portland stone complete with ground floor retail premises.
The landmark site was originally part of the London premises of Dundee founded James Keller & Son, Scotland’s oldest marmalade company dating back to the 1760s. In 1888 the company opened a factory at Tay Wharf in London’s Silvertown, producing Dundee marmalade, Dundee cakes and other preserves. The Notting Hill premises with its Dundee Marmalade sign opened around the same time.
The latest bi-annual Millionaires Letting in London Survey by Beauchamp Estates into the London premium lettings market shows that rental values for London apartments and houses have hit a five-year record high. As a result, there has been a steady rise in bulk investment deals agreed by investors.
In the first half of 2026 there have already been two major bulk residential investment deals agreed with a combined sales value of £67.39 million, in each case multi-millionaire buyers from the Gulf acquiring multiple luxury homes in apartment buildings on Curzon Street and Conduit Street in Mayfair for rental investment and as long-term assets.
Beauchamp Estates highlight that the three bulk deals for a combined sum approaching almost £80 million each involve the purchase of multiple units. Buying at least six London properties at the same time means that the purchase is subject to a lower tax rate – 5% instead of 12% Stamp Duty – as it can be classed as a non-residential transaction by HMRC (His Majesty’s Revenue and Customs). In H1 2025 there was just one major £16 million bulk investment deal undertaken in the London market.
The Millionaires Letting in London Survey reveals that average lettings values for luxury London houses and mansions hit £4,177 a week (£217,204 per annum), a 67.15% rise on 2025 when the value was £2,499 a week (£129,948 per annum), which is also up on 2024 where the equivalent figure was £2,715 a week (£141,180 per annum).
Likewise the average lettings values for luxury apartments and penthouses has 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). The figure in 2024 was £1,775 a week (£92,300 per annum).
Notting Hill is an extremely popular lettings location, especially with tenants from America and Europe, but has seen a large number of properties taken off the rental market yet demand has risen, which has led to an uplift in local rental values.
Notting Hill recording 59 lettings deals for values over £1,000 per week in H1 2026, down from 115 in H1 2025, with the 2026 deals including one of the most expensive luxury London homes let this year – a grand townhouse in Notting Hill let by Beauchamp Estates for £25,000 a week, long let (£1.3 million per annum),
The number of applicants from the Middle East wanting to rent luxury homes in London has risen by 30% during 2026; the number of applicants from America has risen by 20% whilst the number of Chinese applicants has risen by 5%.
The Pembridge is located on the doorstep of the boutiques, cafés and restaurants of Notting Hill and Portobello Road, close to the Kyoto Garden in Holland Park, with Notting Hill Gate underground station – served by the Central, District and Circle lines – within walking distance. The area’s cultural pull remains one of its biggest draws, from the stalls of Portobello Road Market to the Notting Hill Carnival, Europe’s largest street festival, held annually each August.
Vlad Viaryshka, Senior Super-Prime Sales Negotiator at Beauchamp Estates, says: “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. 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.”
Jeremy Gee, Managing Director at Beauchamp Estates says: “For landlords operating in the London market they are seeing rising demand, falling competition and rising rental values. 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.”