Avant Homes agrees £10.8m first Scotland PRS deal with Thriving Investments to deliver 41 homes in Edinburgh
Development
26 Jun 2026
Avant Homes has completed its first private rented sector (PRS) transaction in Scotland after agreeing a £10.8m deal with Thriving Investments, marking a further acquisition for the New Avenue Living fund
Fund manager Thriving Investments is acquiring 41 homes from Avant Homes at its 312-home Edmonstone Village development in Edinburgh for renting at mid-market rents on behalf of its New Avenue Living fund in Scotland.
The transaction is also the first between the two organisations and represents a further deployment for Thriving Investments’ New Avenue Living strategy, which is focused on delivering high-quality, energy-efficient homes for rent in well-connected locations across Scotland.
Avant Homes, which has its Scotland head office in Edinburgh, is committed to implementing a multi-tenure strategy. This has seen the housebuilder deliver its energy efficient, quality new homes across the north of England and Midlands for PRS and affordable housing providers.
All the homes typically have an Energy Performance Certificate (EPC) rating of B or above, which is considered excellent for energy efficiency.
Edmonstone Village benefits from enhanced sustainability credentials as all homes at the development will be powered by a district heating system, operated by Vital Energi.
The low carbon system is designed to reduce carbon dioxide emissions and deliver heat more efficiently, helping residents lower their environmental impact without compromising on comfort.
Edmonstone Village has a gross development value of £87m. It is located off Old Dalkeith Road in Edmonstone and provides fast access to the A720 with Edinburgh city centre five-and-a-half miles away.
Work is already underway on the 41 two-, three- and four-bedroom homes, which include terraced, semi-detached and detached house types.
Once completed, the homes will be operated through Thriving Investments’ New Avenue Living fund, which provides professionally managed, high-quality rental housing in Scotland.
Avant Homes partnerships director, Colin Connell, said: “As a socially conscious fund manager, Thriving Investments is an excellent first PRS partner for us to have.
“We are both aligned in delivering sustainable homes and creating new communities which is precisely what we are doing at Edmonstone Village.
“We intend for this to be the first of many deals that we do in Scotland with a range of PRS providers. Doing so will enable us to ensure we can create greater access for more people to our range of quality, energy efficient new homes.”
This latest news follows soon after Avant Homes announced it is delivering 52 new homes for East Lothian Housing Association (ELHA) at Blindwells, near Tranent, after agreeing a £10.6m deal with the affordable housing provider.
Avant Homes has previously agreed the sale of 700 SFR homes across Yorkshire and the Midlands for £150m.
The housebuilder has also secured a near term pipeline of more than 900 additionality affordable homes to be delivered across 15 developments. This is in addition to more than 550 Section 106 affordable homes which are currently under construction.
Commenting on the deal, Thriving Investments’ fund manager, Ed Crockett, said: “This acquisition is a strong fit for our New Avenue Living fund in Scotland, which is focused on increasing the supply of high-quality, energy efficient homes for mid-market rent in well-connected locations.
“Edmonstone Village offers good access to employment, transport links and local amenities, making it well suited to residents looking for a professionally managed home in an area where demand for quality rental housing remains strong.
“We are pleased to be working with Avant Homes on this transaction and to support the delivery of additional homes in Edinburgh,”
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