With great pride we’re thrilled to reveal a residential portfolio comprising of 118 residential properties across the Central Belt of Scotland has been sold by Places for People to our private clients for c. £10m.
The portfolio of properties was spread across eight developments in Glasgow, Edinburgh, Paisley, Rutherglen and Hamilton with an estimated combined rental value fully let of approximately £810,000 per annum.
The purchasers were represented by our Tay Invest arm, and Scarlett Land and Development. Turcan Connell, Harper MacLeod, MacRoberts, and CMS acted for the purchasers. Meanwhile, Savills and Womble Bond Dickinson represented Places for People.
This deal demonstrates residential property continues to stand the test of COVID-19. With the volatility of the Stock Market, and the pensions of many people at risk, we’ve certainly experienced increased appetite from investors looking to safeguard their future with credible buy-to-let investments. The demand for rental property is incredibly high across the Central Belt because of under supply of new housing. The Scottish Private Rented (PRS) Sector has proven its resilience, with a landmark deal that has now been confirmed despite COVID restraints.
Read more in our press release.
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