:
UK: Thriving Investments has acquired 41 rental homes from housebuilder Avant Homes at Edmonstone Village for £10.8 million.
Work is underway on the 41 two-, three- and four-bedroom homes, which include terraced, semi-detached and detached houses at the site, five miles from Edinburgh city centre.
Once completed, the homes will be operated through Thriving Investments’ New Avenue Living fund, which provides professionally managed rental housing in Scotland.
The 312-home Edmonstone Village, which is located off Old Dalkeith Road, will be powered by a district heating system operated by Vital Energi.
Colin Connell, partnerships director at Avant Homes, said: “As a socially conscious fund manager, Thriving Investments is an excellent first PRS partner for us to have. We are both aligned in delivering sustainable homes and creating new communities which is precisely what we are doing at Edmonstone Village. We intend for this to be the first of many deals that we do in Scotland with a range of PRS providers. Doing so will enable us to ensure we can create greater access for more people to our range of quality, energy efficient new homes.”
Ed Crockett, fund manager at Thriving Investments, added: “This acquisition is a strong fit for our New Avenue Living fund in Scotland, which is focused on increasing the supply of high quality, energy efficient homes for mid-market rent in well-connected locations. Edmonstone Village offers good access to employment, transport links and local amenities, making it well suited to residents looking for a professionally managed home in an area where demand for quality rental housing remains strong. We are pleased to be working with Avant Homes on this transaction and to support the delivery of additional homes in Edinburgh.”
Highlights:
- Thriving Investments has acquired 41 rental homes from housebuilder Avant Homes at Edmonstone Village for £10.8 million
- Work is underway on the 41 two-, three- and four-bedroom homes, which include terraced, semi-detached and detached houses at the site, five miles from Edinburgh city centre
- The 312-home Edmonstone Village, which is located off Old Dalkeith Road, will be powered by a district heating system operated by Vital Energi
