Barberry Group

Barberry acquires 24 show homes for £7m

Midlands-based development and investment company Barberry Group has acquired 24 show homes across the country in a £7m investment.

Barberry — which bought them on a sale-and-leaseback agreement — purchased 11 homes in Derbyshire from Avant Homes, and 13 from Bovis in various locations across the Midlands and the South.

The property specialist has now completed £23m of transactions in the residential market over the past two years and sold 58 apartments in locations including Cheltenham, Lancaster, Warwick, Nottingham, Leamington Spa and Cannock.

“We’re constantly looking for ways to develop our portfolio that generate a good income,” said Alex Watson, director at Barberry.

“We’re, therefore, delighted to have acquired high-quality show homes at attractive sites from Avant Homes and Bovis.

“With guaranteed rental income for several years, and the prospect of increasing property values in well-regarded locations, this strategy represents a relatively low-risk investment with excellent yields.” 

Emilie Douglas, property and marketing manager at Barberry, added: “Despite the uncertainty caused by the political situation in the UK, we have found that there is still a strong residential letting and sales market, [provided that] you have good quality properties in the right locations.”

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