Housebuilder Sky-House Co has sold 11 recently completed homes at Waverley in Rotherham to Hearthstone Investments for £2.7m.
The mix of three- and four-bedroom properties were bought by the specialist fund manager, which focuses on the private rented sector, for immediate rent to families and young professionals on average incomes.
The homes, which form part of Sky-House’s second phase of development at the Waverley site, include app-enabled electric heating, solar roof panels, MEV indoor heat pumps for hot water and EV charging capabilities.
David Cross, founder and director of Sky-House Co, said: “This is an excellent deal for Sky-House, reflecting the quality of our homes for the institutional investment market. Directly dealing with Hearthstone has been a pleasure, with the deal concluded quickly over the summer. We hope this develops into a long-term partnership with Hearthstone, as well as providing a reference point for other funds and institutions as we develop out our pipeline of sites in South Yorkshire and beyond.”
Cedric Bucher, CEO of Hearthstone Investments, added: “The product that Sky-House develops is exactly what the private rented sector is crying out for; quality, new homes with strong environmental credentials in a great location. The ability to bring these properties to the rental market works both for our institutional investors and delivers what local people on average salaries need. It’s a benchmark for what private rented homes should be.”
