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Presence in London

27.03.22

Luxury second home ownership platform Pacaso makes its UK debut, Abode2 checks it out

Pacaso, the technology-enabled real estate marketplace which helps people buy and co-own a luxury holiday home, today announced that it has expanded its service to the UK, with its first properties available in London and soon to launch in other locations. Pacaso offers buyers the unique opportunity to co-own 1/8 to 1/2 of a luxury home. The company has established a presence in London, has already begun recruiting a local team, and is working with a variety of local businesses to support its operations.

Established in the US in 2020 to make holiday home ownership more efficient, Pacaso launched its first international destination in Marbella Spain in November 2021, and now operates in more than 35 global destinations. The company has raised nearly £170 million in equity financing.

“Pacaso is thrilled to be launching in the UK which has been on our radar since we first launched in Europe last year” said Pacaso Global President Razor Suleman. “London is an international cultural and business hub, with world-class theatre, dining, and art. We’ve seen an incredible amount of demand already, and are excited to be able to offer people a new way to co-own a luxury home.”

“Co-owning a home is a more responsible way to own a holiday home as it better utilises existing property on the market,” said Pacaso CEO and Co-Founder Austin Allison. “We are boosting sustainability in the second home real estate market by now helping families purchase and enjoy their homes that would otherwise be sitting empty a majority of the year. With Pacaso, homes have a nearly 90% occupancy rate.”

The first Pacaso property available for co-ownership in London is a three-bedroom penthouse on iconic Queen Street in Mayfair. Spanning over two floors in a period building, the modern home is light and airy with elegant interiors and a cool, neutral palette. The upper level boasts two different outdoor spaces that look out over the historic neighbourhood, which is just steps away from the restaurants and nightlife of Berkeley Square and a short walk away from Hyde Park.

Pacaso is a proud sponsor of the Global Gift Foundation, which helps support women, children, and families around the world through a variety of partnerships with diverse charities.

www.pacaso.com/uk/4-5-queen-street-london-mayfair/

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