Gatehouse Investment Management has acquired 174 homes in the West Midlands from Persimmon for £35m, as part of its joint venture with global investment firm Carlyle.
The new two-, three- and four-bedroom homes in addition to a low-rise block of flats, are located across two sites in Coventry and one each in Dudley and Stoke.
The first units are already completed, with the remaining units to be handed over during 2024. The completed homes will be managed by Ascend Properties.
John Coles, head of acquisitions at Gatehouse IM, said: “We are excited to have completed our first deal with Persimmon, acquiring a further 174 homes for the joint venture’s growing portfolio, and look forward to handover of these units in the coming months. The West Midlands is a core location for our platform, and the type and specification of these homes is ideally suited to residents’ needs in these towns and cities. We hope to work again with Persimmon on similar deals in the future.”
Tristan Freeman-Sear, vice president on the Carlyle Europe Realty advisory team, added: “We are delighted to make this addition to our UK residential platform alongside our partners Gatehouse. This acquisition exemplifies our strategy of identifying well-located, quality assets in markets with attractive underlying supply and demand fundamentals, as well as helping bridge the demand for quality family housing in the region.”
Stephen Cleveley, regional chairman, Persimmon central and Wales, said: “We were delighted to agree this deal with Gatehouse Investment Management. As a five-star builder we are proud to provide good quality new family homes for communities across the West Midlands. We hope this is the first of similar partnerships with Gatehouse Investment Management that secure further much needed new local homes.”
