Joint venture partners Gatehouse Living Group and Carlyle have exchanged contracts to acquire 87 single-family rental (SFR) homes from Avant Homes for £20m.
The new three- and four-bedroom semi-detached and detached homes are already under construction at two developments in the Midlands and one in Yorkshire. First completions are expected in June and all homes will be delivered by December 2026.
This latest deal brings the number of homes acquired by the Gatehouse and Carlyle JV to more than 1,000, of which 214 will be delivered by Avant Homes.
Management of the properties is undertaken by Ascend with the homes operated under the Ascend Living brand.
John Coles, director of acquisitions and development at Gatehouse Living Group, said: “These new homes, strategically-located and benefiting from the local amenities that are an essential part of the SFR offer, are an excellent addition to our platform. Throughout our relationship with Avant, we have been impressed with the quality of homes delivered and their understanding of our requirements, and as such it is great to work with them again on delivering even more homes.”
Timothy Pegg, Avant Homes Group property and multi-tenure director, added: “We have an excellent relationship with Gatehouse Living Group and Carlyle which is built on our ability to deliver a quality product which enables the JV to provide homes for those that need them most.
“Our multi-tenure growth strategy supports much needed housing delivery and we fully intend to build upon the momentum that we have generated. We now look forward to further evolving and deepening our involvement with the JV as we continue to implement our vision to deliver quality homes for everyone which meet a wide range of housing requirements.”
Gordon Kellie, head of UK real estate in Carlyle’s Europe realty advisory team, said: “We are delighted to have worked alongside Gatehouse and Avant to expand Carlyle’s single family residential platform to over 1,000 units. This second transaction with Avant underlines our strategy of identifying quality, well-located assets in the market, while addressing the demand for affordable family housing in the UK.”
