Rental operator Neighbour has agreed the purchase of more than 600 homes in the South East from U+I.
The 400 homes at Ashford and 215 at Sittingbourne, Kent, will be marketed specifically at the private rented market.
In Ashford, Neighbour has bought two of the three sites at U+I and Quinn Estates’ redevelopment of the former Powergen site on Victoria Road, which will consist of more than 650 homes.
The site is subject to planning. In December, U+I submitted plans for the whole residential scheme.
It is also under offer on the residential component of U+I’s mixed-use redevelopment in Sittingbourne town centre, a £100m public private partnership between U+I, Swale Borough Council, Quinn Estates and Essential Land.
Kirk Pickering, director and co-founder of Neighbour, said: “For Neighbour, this is a significant acquisition towards our assembly of a large-scale private rent portfolio of projects across the country.”
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