Gatehouse Investment Management has acquired 50 homes in Gloucester from Vistry Group as part of its joint venture with global investment firm Carlyle.
The three and four-bedroom family homes are part of the Oaklands development, located in Hardwicke to the south west of Gloucester city centre. The properties are being developed by Vistry Cotswolds under the Bovis Homes brand.
Comprising 40 three-bedroom and 10 four-bedroom homes, the houses are the final properties to be delivered by Vistry at the site. Oaklands is a highly successful development, with a well-established local primary school, good transport links and strong local employment opportunities.
This transaction represents the first investment in the south west region by Gatehouse IM and Carlyle, with the homes being delivered between December 2023 and April 2024. As part of Gatehouse IM’s commitment to sustainability, all of the new homes will have an EPC rating of ‘B’ or higher.
Once complete, the homes will be managed by Ascend Properties, the UK’s largest lettings and property manager of SFR.
John Coles, Head of Acquisitions at Gatehouse IM, said: “We are pleased to have closed out another deal with Vistry Group, and our first including properties under its Bovis Homes brand. Oaklands is a vibrant, established community that will be a great addition to the portfolio of homes acquired as part of the Gatehouse IM and Carlyle Group joint venture. Lease-up on site has already commenced, and we look forward to receiving more quality handovers from our housebuilder partner in the coming months.”
Tristan Freeman-Sear, Vice President on the Carlyle Europe Realty advisory team, added: “The UK housing sector continues to present compelling investment opportunities given its underlying supply and demand fundamentals. The acquisition of the homes at Oaklands, with our partners Gatehouse IM, represents a high-quality addition to our growing single-family housing portfolio and helps provide modern and professionally managed rental housing to families in Gloucester.”