Barberry disposes of show homes portfolio

Property development and investment specialist Barberry Group has completed the disposal of a £3m portfolio of 13 show homes in the Midlands.

The new residential properties formed part of a £7m investment the company made at housing development sites across the country in 2019.

It acquired 24 high quality new build homes on a sale-and-leaseback agreement with two major housebuilders, including 13 in the East Midlands from Avant Homes, and 11 homes from Bovis/Vistry at attractive sites in the Midlands and the South.

Barberry’s property surveyor Emilie Douglas said: “I am very pleased to announce that we have completed the sale of the final property in our Avant portfolio.

“The agreement with Avant has worked extremely well. Barberry provided flexibility for the housebuilder, providing them with the ability to extend leases by six to 12 months depending on the speed of sales on each development. We have also worked alongside Avant to maximise our disposal value on each individual house.”

She added: “Our investment in show homes has been successful for all parties involved and we are therefore keen to pursue more deals of this nature as we continue our strategy of investing further in the UK residential market.”