Gatehouse Investment Management has secured a deal to purchase 174 homes from Persimmon for €40.6m, in collaboration with Carlyle. There are several properties located in Coventry, Dudley, and Stoke, consisting of two to four-bedroom houses and a block of flats situated near Coventry city centre.
Some units have already been completed, while the rest are expected to be finished by 2024. All of these properties will have an Energy Performance Certificate (EPC) rating of ‘B’ or higher. These new homes will be managed by Ascend Properties, a leading property management firm in the UK.
John Coles, Head of Acquisitions at Gatehouse IM, said: “We are excited to have completed our first deal with Persimmon, acquiring a further 174 homes for the joint venture’s growing portfolio, and look forward to handover of these units in the coming months. The West Midlands is a core location for our platform, and the type and specification of these homes is ideally suited to residents’ needs in these towns and cities. We hope to work again with Persimmon on similar deals in the future.”
Tristan Freeman-Sear, Vice President of the Carlyle Europe Realty advisory team, added: “We are delighted to make this addition to our UK residential platform alongside our partners Gatehouse. This acquisition exemplifies our strategy of identifying well-located, quality assets in markets with attractive underlying supply and demand fundamentals, as well as helping bridge the demand for quality family housing in the region.”
Stephen Cleveley, Regional Chairman, Persimmon Central & Wales, added: “We were delighted to agree this deal with Gatehouse Investment Management. As a five-star builder, we are proud to provide good quality new family homes for communities across the West Midlands. We hope this is the first of similar partnerships with Gatehouse Investment Management that secure further much-needed new local homes.”
Image source - Copilot AI.
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