With great pride we’re thrilled to reveal that we have secured a major property portfolio. The residential portfolio comprises of 118 residential properties across the Central Belt of Scotland. Places for People sold it to our private clients for c. £10m.
The portfolio of properties covers eight developments in Glasgow, Edinburgh, Paisley, Rutherglen and Hamilton. Each with an estimated combined rental value fully let of approximately £810,000 per annum.
Our Tay Invest arm and Scarlett Land and Development represented the purchasers. 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 uncertainty of the Stock Market, and the pensions of many people at risk, we’ve 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, confirming a landmark deal despite COVID restraints.
Read more about how we secured the major property portfolio in our press release.
If you’re interested in investing for the first time or expanding your property portfolio, find out more and get in touch here.