In a significant multi-site deal with a national housebuilder, HRF1 has agreed to purchase 72 two-, three- and four-bedroom houses scheduled to be completed in 2019 for a phased delivery between January and December.
The new build homes are located in Exeter (28), Bicester (11), Rugby (9) and Pontefract (24), all towns that are expanding, have good infrastructure and transport connections and strong local economies.
John Coles, Asset Manager, Hearthstone Investment Management, commented: “This is the largest deal HRF1 has completed to date with a single housebuilder.
“The purchase of such a significant number of houses across several sites is consistent with the fund’s regional diversification strategy to the different regions across the UK.”
The phased delivery provides HRF1 with a controlled delivery pipeline of approximately five to ten houses per month stretching throughout 2019.
HRF1 has also agreed to purchase a further nine three-bedroom houses in Ashby-dela-Zouch from another major national housebuilder.
Richard Otten, Partner & Director of Asset Management, Hearthstone Investment Management, explained: “With this latest round of acquisitions, we are now working with a total of six major housebuilders across the UK.
“It has been a core part of the strategy for HRF1 to work with a small group of housebuilders to establish relationships and source good quality houses in suburban regional areas that offer sustainable employment opportunities.”
HRF1 is advised by Womble Bond Dickinson (UK) LLP.
The free Newton Waterproofing App has undergone a major update, including moving to a Google software development kit and adding a host of new features.Posted in Articles, Building Industry News, Building Products & Structures, Building Services, Damp & Waterproofing, Facility Management & Building Services, Information Technology, Innovations & New Products
Marc Roberts, Chief Operations Officer at BBI Services, tackles the topic of how to implement workable strategies for improving productivity and efficiency.Posted in Articles, Building Industry News, Building Services, Facility Management & Building Services, Site Preparation
Recofloor’s 2022 rugby-themed awards event – the first in-person occasion for three years – kicks off in April at the renowned Twickenham Stadium.Posted in Articles, Awards, Building Industry Events, Building Industry News, Building Products & Structures, Building Services, Exhibitions and Conferences, Facility Management & Building Services, Floors, Site Preparation, Sustainability & Energy Efficiency, Waste Management & Recycling
Digital Construction Week was delighted to finally have the chance to welcome thousands of visitors to the show once again, between 24 – 25 November 2021.Posted in Articles, BIM, Infrastructure & CAD Software, Building Industry Events, Building Industry News, Building Products & Structures, Exhibitions and Conferences, Information Technology, Innovations & New Products, Seminars, Video of the Week