Forward Funding Opportunity for 105 Single Family Homes in Yorkshire

Posted by Colliers on 13th October 2023 -

Colliers is marketing a portfolio of 105 single family homes across two sites in Yorkshire on behalf of housebuilder Newett Homes. 

The portfolio of properties in Goole and Carcroft include apartments as well as houses with up to four bedrooms and has a gross development value of £25million. The homes have been designed to provide high quality living and external spaces that will appeal to families and they are located close to key employment hubs. 

The portfolio in Goole includes 42 properties: 19 two bedroom homes, 16 three-bedrooms and seven four beds houses. Located between Leeds, Sheffield and Hull, construction is due to start on site in Q1 2024, with the first units ready for hand over in Q4 2024, and the whole development completed in Q2 2025. 

The Carcroft development includes eight apartments (six one-beds and two two-beds) as well as 13 two-bedroom houses, 36 three-bedroom and six four-bedroom properties. Located south of Leeds and north of Sheffield, construction work is due to start on site in Q2 2024 with the first units completed in Q1 2025, and the final units completed by Q4 2025. 

Will Newett, CEO of Newett Homes, said: “We recognise that currently the market is shifting and that despite a need for homes, affordability is difficult for buyers right now. We’re looking to partner with an investor who apprciates the need for high quality rental accommodation for families in the north east and recognise the strength of the Northern Powerhouse.” 

Mike Gorman from Colliers Residential Capital Markets team said: “Newett Homes is a housebuilder with a strong reputation within the Yorkshire region for delivering high quality homes. This is one of its first forays into the single family housing market, offering a wide range of accommodation options. This is an ideal opportunity to fund a significant portfolio in the north east within close proximity to major employment centres.” 

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