:
UK: Long Harbour has agreed a deal with housebuilder Bellway to forward fund the delivery of 175 single-family rental (SFR) homes across two schemes in Derby and Desborough.
A total of 94 houses will be built by Bellway at Snelsmoor Village in Derby, part of an urban extension of almost 800 homes near Chellaston in south-east Derby. A further 81 houses will be built at Weavers Fields in Desborough, Northamptonshire.
These investments will be the first acquisitions in the Midlands on behalf of Long Harbour’s Single Family Housing Fund.
To date the fund has committed to around £200 million of acquisitions, which will deliver almost 500 homes, with a further £500 million of identified opportunities. The fund is targeting a total investment amount of £1.2 billion including debt, having recently secured a further £100 million of capital from the National Housing Bank.
Jack Spearman, managing director of single family housing at Long Harbour, said: “Our latest acquisition of two new sites underlines the momentum behind our single family strategy and our strong relationships with housebuilders.”
“The East Midlands region is an area with high economic growth prospects and a strong demand for rental housing. These high quality homes delivered by Bellway offer a superior product to existing housing stock in the area, which combined with our Way of Life management offer makes a compelling offer to local renters,” he added.
Highlights:
- Long Harbour has agreed a deal with Housebuilder Bellway to forward fund the delivery of 175 single-family rental (SFR) homes across two schemes in Derby and Desborough
- A total of 94 houses will be built by Bellway at Snelsmoor Village in Derby, part of an urban extension of almost 800 homes near Chellaston in south-east Derby
- A further 81 houses will be built at Weavers Fields in Desborough, Northamptonshire
- These investments will be the first acquisitions in the Midlands on behalf of Long Harbour’s Single Family Housing Fund
