The sale of the last home took the total transaction value to over £15 million.
The 24 model homes were acquired by Belbroughton-based Barbury from two large housebuilders, Avant Homes and Vistry Group, in 2019. They are spread across 11 housing development sites, stretching from Chesterfield in the north to Bristol in the south, and were acquired by Barbury from the housebuilders through a sale and leaseback scheme.
Emily Meddings, property surveyor at Burbury, said: “The final three homes have now been sold to home occupants, taking the total transaction value to over £15 million and marking the successful completion of our business plan.”
“The deal worked out very well for all parties. Barberry acquired the model homes on leaseback to the housebuilders, gave the housebuilders the right to extend the leases depending on how quickly each development sold, and worked with the housebuilders to sell the model homes at the end of the development.”
She added: “Burberry will seize the opportunity to acquire further projects by targeting high-growth sectors such as industrial, logistics, residential and roadside uses. We are committed to reinvesting the capital from this project to acquire further value-add investment opportunities and enhance our expanding development pipeline.”
Burbury owns 515 acres of strategically located housing and employment development land with capacity to build 3,500 new homes. The company has an industrial/logistics development pipeline of 2.5 million sq ft with a total development value of over £400 million, as well as a growing income generating commercial portfolio which delivers sustainable returns.
