London & Stamford has made another acquisition in the London housing market - a £24.4m complex of soon-to-be completed flats on the Clapham Road in South London. Its tally of residential deals has now reached four, which isn't bad for a company that two years ago declared housing to be a property asset to avoid.
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The company's founders, veteran property investors Raymond Mould and Patrick Vaughan, have been converted to residential by the strong London rental market. Because the deposits necessary to buy property in inner London are so chunky, Mr Mould and Mr Vaughan think its housing market is moving towards the rental model that dominates other European cities. That implies rising rental yields; a trend they are keen to exploit.
