Gatehouse Investment Management has acquired 50 homes in Gloucester from Vistry Group as part of its joint venture with Carlyle.
The three and four-bedroom family homes are part of the Oaklands development, located in Hardwicke to the southwest of Gloucester city centre. The properties are being developed by Vistry Cotswolds under the Bovis Homes brand.
The Oaklands development is composed of 40 three-bedroom and 10 four-bedroom homes, which will be the final properties built by Vistry at the site. The development has a well-established primary school, good transport links, and strong local employment opportunities.
The homes are expected to be delivered between December 2023 and April 2024, and all of them will have an EPC rating of 'B' or higher, in line with Gatehouse IM's commitment to sustainability.
Once completed, SFR and Ascend Properties, will manage the homes.
John Coles, Head of Acquisitions at Gatehouse IM, said: “We are pleased to have closed out another deal with Vistry Group, and our first including properties under its Bovis Homes brand. Oaklands is a vibrant, established community that will be a great addition to the portfolio of homes acquired as part of the Gatehouse IM and Carlyle Group joint venture. Lease-up on site has already commenced, and we look forward to receiving more quality handovers from our housebuilder partner in the coming months.”
Tristan Freeman-Sear, Vice President of the Carlyle Europe Realty advisory team, added: “The UK housing sector continues to present compelling investment opportunities given its underlying supply and demand fundamentals. The acquisition of the homes at Oaklands, with our partners Gatehouse IM, represents a high-quality addition to our growing single-family housing portfolio and helps provide modern and professionally managed rental housing to families in Gloucester.”
Supriya Ray, regional managing director for Vistry Cotswolds, added: “Oaklands has been an extremely popular location with housebuyers due to the high-quality homes, green space and range of facilities on its doorstep. I am sure these factors will make it just as appealing to local families looking for a modern and energy-efficient rental property in a desirable and well-connected location. We are pleased to be working in partnership with Gatehouse IM to deliver these quality new-build homes for the build to rent market in Gloucester.”
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