Taylor Wimpey has completed the sale of 73 new homes to Annington, one of the largest owners of residential property in the UK, in a deal worth in excess of £23m.
The 73 properties are split between five of the housebuilder’s developments and are scheduled for completion between May and December 2018.
Nigel Holland, Divisional Chairman Central & South West at Taylor Wimpey, says:
“We recognise that the number of people living in private rental homes is increasing, and are pleased to be able to further diversify the range of homes available at our developments across East Anglia, Oxford, Bristol, West London and the South Midlands. In addition to the 73 homes sold to Annington, we continue to build a wide variety of homes for private sale across the five developments.”
James Hopkins, Chief Executive Officer, Annington, commented:
“This deal supports Annington’s strategy to build greater scale in private rental housing. Our £4bn refinancing last year ensures we have the balance sheet to deliver further growth and this acquisition builds on our purchase of more than 200 homes last month. As one of the few existing landlords with both significant scale and a track record in this space, and with a deep understanding of both local and national markets, we feel we are well placed to make a difference in addressing the UK’s housing challenges. We will continue to actively pursue further opportunities.”