Pinnacle was established over 20 years ago and focuses on housing-led regeneration projects in the UK in partnership with the public sector.

The existing senior management team will remain in place.

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Roger Clarke, chief executive of Tunstall, said: “In partnership with the public sector, we look forward to providing much-needed new homes, as well as the regeneration of communities across London. 

“This is a significant and exciting first acquisition for Tunstall and fits perfectly with our strategy to deploy capital across all sectors of real estate.”

The company has a long-term, integrated approach to regeneration that combines investment in master-planning and place making with neighbourhood services.

Pinnacle employs approximately 2,300 professionals and has a turnover of more than £90m (year ending 31^st March 2017).

Perry Lloyd, chief executive of Pinnacle, said: “I have every confidence that our new shareholders will allow Pinnacle to build on its existing capability and to respond positively and even more innovatively to the UK’s housing crisis.

“These are very exciting times for Pinnacle—none of which would have been possible without the support of our previous shareholders, Henry Cheng and Sammy Lee.”