Investor adds host of Yorkshire properties to portfolio
PROPERTY investor, the Pervaiz Naviede Family Trust, has added to its residential portfolio with the £3.2m acquisition of 45 properties in Hull.
The purchase from Dublin-based Saint Martino is part of a £10m push into new areas of the North.
The deal includes apartments in three developments – Pier 9, a Grade II-listed former ticket office on Nelson Street; Carmichael House, two adjoining Victorian properties on Sunny Bank; and three detached properties on Salisbury Street including a Grade II-listed house, restored and rebuilt by developer Francis Daly. All are fully let.
Rudi Falla, spokesman for the Pervaiz Naviede Family Trust, said: “We have identified a number of high quality schemes in good locations which are popular with young professionals looking for medium to long-term tenancies. This portfolio makes for an attractive investment and, in the longer term, we have the expertise to upgrade these properties and add value to maintain those high yields.
“We have ambitious plans for this part of the business and will expand by more than 150 properties in the next quarter, taking our total portfolio to 800 units.”
The trust owns a number of companies including Salford property developer LPC Living. Property agent Zameero and the Manchester office of law firm Gateley acted on behalf of the trust.
Hull-based surveyor Garness Jones advised the vendor.
