Suburban private rented housing specialist Hearthstone Investments has acquired a portfolio of 66 homes in Derby from Miller Homes through the Hearthstone Residential Fund 2, for an undisclosed price.
Construction of the nine apartments and 57 houses in Allestree commenced in January and the development includes landscaped attenuation ponds, public green space, a wildlife corridor, three children’s play areas and a BMX track.
Helen Simons, investment director at Hearthstone, said: “When selecting new sites we focus on areas with strong and diverse employment, excellent transport connections and infrastructure, and places that are attractive as a place to live. This acquisition is a strong example of that.
“Hearthstone Investments has a significant track record of investing in the Midlands, including in Derby, and demand for high quality, energy-efficient private rented housing remains high here. This is demonstrated by low voids and short relet times seen across the over 500 units already held in the region through Hearthstone Investments’ funds and mandates.”
Savills acted for Miller Homes on the sale.
