The West Midlands-based development and investment firm, Barberry Group, has acquired Twenty-four show homes at sites across the country as part of a multi-million-pound investment.
The £7m valued deal saw the Midlands developer purchase multiple homes on a sale-and-leaseback agreement with two major housebuilders Avant Homes and Bovis.
Commenting on the acquisitions, 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.”
Barberry acquired 11 show homes in Derbyshire from Avant, while purchasing a further 13 from Bovis across various sites throughout the Midlands and the South.
Over the past two years, Barberry has completed £23m worth of transactions in the residential market and has sold nearly 60 apartments across the country.
Barberry property and marketing manager Emilie Douglas said: “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.”
Featured Image: Two Barberry Group-acquired showhomes at De Rhodes Point, Chesterfield.