Property specialist the Barberry Group has acquired 24 show homes at sites across the country in a £7m investment.
The company has bought the homes on a sale-and-leaseback agreement with two major housebuilders. Barberry has acquired 11 show homes in Derbyshire from Avant Homes, and 13 homes from Bovis at various sites in the Midlands and the South.
The investment is the latest move as the company continues its strategy of investing further in the UK residential market.
Barberry director Alex Watson said: “We’re constantly looking for ways to develop our portfolio that generate a good income. We’re therefore delighted to have acquired high quality show homes at attractive sites from Avant Homes and Bovis.
“With guaranteed rental income for several years, and the prospect of increasing property values in well-regarded locations, this strategy represents a relatively low risk investment with excellent yields.”
In the past two years, Barberry has completed £23m of transactions in the residential market. The company sold 58 apartments in locations including Cheltenham, Lancaster, Warwick, Nottingham, Leamington Spa, and Cannock.
Barberry property and marketing manager, Emilie Douglas, added: “Despite the uncertainty caused by the political situation in the UK, we have found that there is still a strong residential letting and sales market, providing you have good quality properties in the right locations.”