Avant Homes announces £20m PRS deal with 87 single family rental home sale to Gatehouse Living Group and Carlyle JV
Corporate
24 Jun 2025
Gatehouse Living Group and global investment firm Carlyle (NASDAQ: CG) have exchanged contracts to acquire 87 single-family rental (SFR) homes from Avant Homes for £20 million.
The new homes, sold to the joint venture as part of Avant Homes’ multi-tenure growth strategy, are spread across two developments in the Midlands and one in Yorkshire.
The three- and four-bedroom semi-detached and detached homes are already under construction, with first completions expected in June and all homes to be delivered by December 2026.
All three development locations provide access to good transport links and local amenities, with all homes having an EPC rating of ‘B’ or higher in line with the JV’s commitment to sustainability.
The agreement is the second PRS deal that Avant Homes has entered into with its JV partners, Carlyle and Gatehouse Living Group, after announcing a £26m, 127 SFR homes transaction last August. That agreement also comprised three developments, one in Yorkshire and the others in the Midlands.
This latest deal brings the number of homes acquired by the JV to over 1,000, of which 214 will be delivered by Avant Homes. Day-to-day management of the properties is undertaken by Ascend – the UK’s largest third-party operator of SFR, overseeing two thirds of the entire asset class – with the homes operated under the Ascend Living brand.
Avant Homes’ multi-tenure growth strategy is fully aligned with the UK government’s housing policy and boasts a near term pipeline of more than 400 additionality affordable homes to be delivered across 19 developments. Avant Homes is also currently constructing in excess of 600 Section 106 affordable homes.
John Coles, Director of Acquisitions and Development at Gatehouse Living Group, said: “These new homes, strategically-located and benefitting from the local amenities that are an essential part of the SFR offer, are an excellent addition to our platform. Throughout our relationship with Avant, we have been impressed with the quality of homes delivered and their understanding of our requirements, and as such it is great to work with them again on delivering even more homes.”
Timothy Pegg, Avant Homes Group property and multi-tenure director, added: “We have an excellent relationship with Gatehouse Living Group and Carlyle which is built on our ability to deliver a quality product which enables the JV to provide homes for those that need them most.
“Our multi-tenure growth strategy supports much needed housing delivery and we fully intend to build upon the momentum that we have generated. We now look forward to further evolving and deepening our involvement with the JV as we continue to implement our vision to deliver quality homes for everyone which meet a wide range of housing requirements.”
Gordon Kellie, Head of UK Real Estate in Carlyle’s Europe Realty advisory team, said: “We are delighted to have worked alongside Gatehouse and Avant to expand Carlyle’s single family residential platform to over 1,000 units. This second transaction with Avant underlines our strategy of identifying quality, well-located assets in the market, while addressing the demand for affordable family housing in the UK.”
Gatehouse Living Group is a vertically-integrated residential real estate investment and management platform, specialising in SFR. Comprising Gatehouse Investment Management and property manager Ascend, it holds a unique market position and unrivalled track record, having created five institutional SFR platforms – two of which have been sold in benchmark transactions – and managing more than 11,000 rental homes nationwide.
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