Pacaso, the technology-enabled real estate marketplace which helps people co-own a luxury home, today announced it has expanded its presence in the UK with its second property listing now available in Chelsea, London SW3.
Established in the US in 2020 to make home ownership more efficient, Pacaso offers buyers the unique opportunity to co-own ⅛ to ½ of a luxury home. The company now operates in more than 40 global destinations, and launched its first international destination in Marbella, Spain in late 2021 followed by the UK and Mexico in 2022.
“After our first UK property listing in London’s historic Mayfair sold out in just a few weeks, it became clear the city is a leading destination for clients who enjoy benefits of the co-ownership lifestyle in Europe,” said Pacaso CEO and founder Austin Allison.
“London’s thriving Chelsea neighbourhood is world-famous, with a truly international mix of residents. We have only been in the UK market for a few months but we’re already seeing the Pacaso model complement the needs of families and individuals who want to enjoy the buzz of London all year round.”
Located on St Luke’s St in Chelsea, nestled on a quiet road just behind the famous church of the same name where Charles Dickens was married, the new Pacaso listing is an incredible four-bedroom, four-bathroom haven. The home is just a short stroll from the shopping, dining and culture of vibrant King’s Road and the neighbourhood’s famous landmarks. From Vivienne Westwood’s first boutique, SEX, at 430 King’s Road to the Saatchi Gallery and Royal Court Theatre on Sloane Square, buyers are surrounded by history and culture in this unique and rare location in the heart of SW3.
Behind the charming period façade, the house has been completely renovated to provide a spacious, light-filled, contemporary space arranged over five floors. The entrance leads to an open plan living area of calming, neutral palettes, encompassing the entire floor. Other highlights include a kitchen-dining area featuring a bespoke Roundhouse kitchen design with sliding doors which open onto a secluded patio space.
The upper floor offers a stunning penthouse suite, including a pink marble bathroom and walk-in wardrobe. The property has been finished to an impeccable standard throughout with top-of-the-range Kef speakers in every room, Heatmiser underfloor heating and Lutron QS Homeworks lighting.
In addition to its indoor entertainment areas, the period home includes a newly built outdoor space – this double-height private sanctuary is accessible from the lower ground floor kitchen, providing an outdoor living area with all the comforts of the home. As well as the buzz of nearby Kings Road and surrounding streets, the property is close to St. Luke’s Gardens, a popular leafy park with walking paths and playground.
“With Pacaso’s success in the UK so far, we are actively looking at other opportunities and locations to expand our business here,” said Allison. “Co-owning is a more responsible way to own a second home as it better utilises existing property on the market. We are boosting sustainability by helping families purchase and enjoy homes that would otherwise be sitting empty a majority of the year. With Pacaso, homes have a nearly 90 per cent occupancy rate.”
Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a three per cent referral commission.
An ⅛ share of the Chelsea Gardens listing is available from £824,000, full home value £5,701,000. To see all available Pacaso homes, visit the Pacaso website: pacaso.com.