Alchemy RE is a new company entering the PBSA market. It has been launched by Matthew Pullen (former CEO of Apo Group) and Nic Simpkin (former CFO of Berkeley Group) as an innovative new operating partner to real estate investors looking to grow their presence in the living sectors.
Alchemy RE is being seeded with the £1bn development pipeline of Astir Living, the London-based developer founded by Nic in 2018.
Its first project will be an 850-bedroom PBSA scheme at Brent Cross, followed by a mix of other living sectors assets with a particular focus on co-living.
Aside from working with Astir Living to bring forward its pipeline, Alchemy RE will work with other developers, owners and investors to support their acquisition, design, development and operation of assets.
The team will focus on optimising performance at every stage, maximising value and making deals work. In addition, the company will monetise amenity spaces, building on its first co-working space in West Hampstead, which it operates under the brand Apex.
“The Living Sector still has huge untapped potential for institutional investors beyond multifamily housing, which I’ve focussed on for over ten years now. Alchemy RE will work across co-living, student, multifamily, senior living and single-family housing with the flexibility to combine and switch between them, enabling us to add real value that others miss.
“Our operating approach is distinctly different to the majority of the sector – using PropTech to enable us to drive revenue whilst reducing operating cost and risk which, when combined, can make a material difference to value. Alchemy RE will work with clients as a partner, sharing the risk and reward of delivering market-leading performance.”
Matthew Pullen, Founder, Alchemy RE
The company expects to scale quickly, building a reputation for creative development solutions, delivering the best living experience to residents and the highest investment returns to clients.
By helping to open up the living sectors more broadly to institutional capital, its longer-term goal is to make a positive contribution towards solving the UK’s housing crisis by boosting supply with homes that people love.
