Attraction of Private Rented Sector highlighted through Barratt sale
The Estates Gazette has reported how Barratt has put a prime portfolio of more than 300 London flats up for sale, as it looks to take advantage of the wave of money looking to enter the UK’s private rented sector.
The flats, which are spread across four of the housebuilder’s uncompleted schemes, have an end value of £320m were they to be sold on the open market – that’s over £1m per flat and £1,100 per square foot! The sale would help Barratt derisk its portfolio and take advantage of institutional rental money trying to enter London. It is the first time the firm has offered such a large portfolio for sale in the market.
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