Ascott is acquiring a prime property in the heart of Islington to be named Citadines Islington London, through its serviced residence global fund with Qatar Investment Authority. The development will form part of Islington Square, which will also comprise 263 new homes and 170,000 square feet of retail and leisure facilities around the old Royal Mail Sorting Office.

Ascott will invest £52 million in the 108-unit property which is the US$600 million fund’s third investment, after two properties in Paris and Tokyo in November 2015, and which adds to 1,000 units across seven properties across London.

In 2016, Ascott has so far added 3,400 apartment units to its portfolio.