Gatehouse Investment Management has secured a deal to purchase 174 homes from Persimmon for £35 million, in collaboration with Carlyle, a leading global investment firm. The properties, located in Coventry, Dudley, and Stoke, feature a range of two to four-bedroom houses and a block of flats near Coventry city centre.

With some units already completed and the rest expected by 2024, all properties will boast an Energy Performance Certificate (EPC) rating of ‘B’ or higher. Ascend Properties, a leading property management firm in the UK, will oversee these new homes.

This acquisition marks Gatehouse IM’s first transaction with Persimmon, expanding their joint venture portfolio to over 500 homes in the West Midlands, a region known for its robust rental demand. The move follows Carlyle and Gatehouse’s acquisition of 50 homes in Gloucester, indicating a strategic expansion of their residential platform.

John Coles of Gatehouse IM expressed enthusiasm for the venture and anticipation for the handover of the new units, highlighting the West Midlands as a strategic location for their investments. Tristan Freeman-Sear of Carlyle emphasized the acquisition’s alignment with their strategy of selecting quality assets in high-demand areas.

Stephen Cleveley of Persimmon voiced pride in the partnership and the quality of homes provided, expressing hope for future collaborations with Gatehouse IM to address the local housing demand.