Inland Homes have sold two Build to Rent (BTR) assets for €58.4m (£52.8m), demonstrating the attractiveness of the brownfield regeneration specialists’ assets within this growing market. Kooky, a new boutique BTR brand, has acquired Inland Homes’ Buckingham House development in High Wycombe, consisting of 85 units purchased for €23.6m (£21.3m), adding to its growing portfolio of branded BTR properties in key locations surrounding London. The second development sold by Inland Homes was located at its Centre Square development in High Wycombe and comprised 123 units. The purchase price was €34.9m (£31.5m).
"We have a substantial number of sites which are suitable for rental housing and as we reported in last year's accounts, securing 'Build to Rent' opportunities has been a priority for the Group this year,” said Stephen Wicks, Chief Executive at Inland Homes. "We are delighted therefore to announce these latest land sales at Centre Square and Buckingham House to two highly-respected operators in this market. As these deals evidence, and following the completion of land sales at Wilton Park and Cheshunt Lakeside, there is sustained demand from investors, housing associations and other developers for our high-quality land assets and our build expertise.This is particularly pleasing and a testament to the Group when considered against the ongoing global COVID-19 economic uncertainty."
Nicholas Belkin, Head of Acquisitions at Kooky, added: “‘Taking up the opportunity to work with Inland Homes proved to be a fluid acquisition from agreeing on the deal through to exchange. The team at Inland were always on hand during the legal process. We are excited about our first Kooky rental building in High Wycombe and further deals to come with Inland Homes.”