Housing developer changes hands in MBO

Paul Gratton

Wise Living, the Nottingham developer for the private rental sector (PRS). has changed hands in a management buyout.

Managing director Paul Staley heads up the new management team, having joined the company in 2011.

Meanwhile, Paul Gratton returns as chairman to the company he helped found. He said: “This is such an exciting time for Wise Living given the ever increasing interest from institutional investors looking to invest in PRS.

“Wise Living has the most experienced management team in the sector to support this and with the new funding this buy out has unlocked, has the opportunity to significantly accelerate its growth as it looks to lead the market in the development of high quality, energy efficient homes at affordable rents.”