Moorfield Group has acquired a portfolio of 32 single-family rental homes in Alconbury, Cambridgeshire, from housebuilder Morris Homes for £10.5m.
The acquisitions were made on behalf of MREIT, Moorfield’s private non-traded REIT, which has built a portfolio of more than 600 single-family rental homes with a gross asset value of circa £200m.
The newly constructed homes, which will be operated by Moorfield, form part of a 186-home development by Morris Homes in Urban&Civic’s Alconbury Weald masterplan.
Charles Ferguson-Davie, co-CEO and CIO of Moorfield Group, said: “We continue to have high conviction in the single-family housing sector as part of our thematic focus on living and storage real estate in the UK. These asset classes are united by needs based demand drivers and structural under supply, with the potential for value creation through active asset management and delivering a better customer experience, and the ability to deliver inflation-linked rental growth.”
Joanne McGarvey, regional sales director at Morris Homes, added: “”We are pleased to collaborate with Moorfield Group on this portfolio, which reflects the high quality homes we are committed to delivering at not just Alconbury Weald, but all our developments. With growing demand for well designed, energy efficient homes in sought after locations, we are proud to contribute to the flourishing single-family rental sector and provide high quality residencies.”
