UK investor London & Stamford has completed the purchase of the long leasehold interest in 74 private residential units and 30 car parking spaces at The Apartments, 131-143 Clapham Road in London for £24.4 mln (EUR 28 mln). The vendor is Kilmorie Investments.

The purchase, which was first announced in August, involves the long leasehold for a period of 999 years of a residential asset with 4,500 m2. The residential units comprise a mix of studio, 1 and 2-bedroom apartments.

London & Stamford was set up by veteran UK real estate investors Raymond Mould and Patrick Vaughan to exploit re-pricing in the UK real estate market in the downturn. At end-March 2011 the company had £1.5 bn (EUR 1.7 bn) of assets under management.