Housebuilder sells 11 new homes in Rotherham to fund manager to rent to families and young professionals

The 11 homes at Waverley in Rotherham - a mixture of three and four-bed properties – were bought by Hearthstone Investments for immediate rent to families and young professionals on average incomes.

Waverley’s connectivity to both Junction 33 of the M1 and to the centres of both Sheffield and Rotherham, in addition to environmental credentials – including app-enabled electric heating, solar roof panels, MEV indoor heat pumps for hot water and electric vehicle charging capabilities to every home - were key selling points for the homes.

Hearthstone Investments is a specialist fund manager focused on the private rented sector, with over £450m of assets under management

This deal is Sky-House’s first with a specialist fund of this kind. All 11 homes are now being marketed through local agents, who have reported strong demand.

The homes form part of Sky-House’s second phase of 44 homes at Waverley, Yorkshire’s largest ever brownfield redevelopment. This deal means that all of these homes have already sold well ahead of development completion.

A further phase of new Sky Houses - the development of a 4.2 acre site adjacent to Harworth’s Olive Lane town centre scheme - will bring a further 96 new homes later this year.

David Cross, founder and director of Sky-House Co, said: “This is an excellent deal for Sky-House, reflecting the quality of our homes for the institutional investment market.

Cedric Bucher, chief executive of Hearthstone Investments, added: “The product that Sky-House develops is exactly what the private rented sector is crying out for; quality, new homes with strong environmental credentials in a great location.”