Property development and investment specialist Barberry Group has completed the disposal of a £3 million portfolio of 13 show homes in the Midlands.
The new residential properties formed part of a £7 million investment the company made at housing development sites across the country in 2019.
It acquired 24 high quality new build homes on a sale-and-leaseback agreement with two major housebuilders, including 13 in the East Midlands from Avant Homes, and 11 homes from Bovis/Vistry at attractive sites in the Midlands and the South.
Barberry’s property surveyor Emilie Douglas said: “I am very pleased to announce that we have completed the sale of the final property in our Avant portfolio.
“The agreement with Avant has worked extremely well. Barberry provided flexibility for the housebuilder, providing them with the ability to extend leases by six to 12 months depending on the speed of sales on each development. We have also worked alongside Avant to maximise our disposal value on each individual house.”
She added: “Our investment in show homes has been successful for all parties involved and we are therefore keen to pursue more deals of this nature as we continue our strategy of investing further in the UK residential market.”
The final Avant home sold by Barberry was a two-bedroom semi-detached in South Normanton, Alfreton, completed in a race against time to ensure the couple buying the property could be in their new home in time for Christmas, added Emilie.
In recent years, Barberry has completed more than £48 million of transactions in the residential market including the block purchase and break up of apartments in Cheltenham, Lancaster, Shirley, Nottingham, Leamington Spa, and Cannock.
In 2023, Barberry is proudly celebrating 40 years of successful property investment and development. The company is opportunity driven and is actively seeking further development and investment opportunities. It is active in all sectors of the property market including industrial, offices, retail, strategic land and residential.
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