Hearthstone Investments completes on £93million over 12 months, with over 300 homes added to its growing portfolio
May 2023: Hearthstone Investments, a specialist in the UK private rented housing sector, has announced it has completed on £93m of acquisitions over the past year, with over 300 new homes added to its growing portfolio. The new homes, split into 22% flats and 78% houses, cover 18 locations across England in the North West, the Midlands, Eastern England, the South West, and South East.
Hearthstone’s funds now own a combined portfolio of over 1,800 homes across the UK, including a pipeline of new properties currently under construction. The continued growth of the portfolio underlines Hearthstone Investments’ credentials as a major contributor to the UK’s private rental housing sector and provides institutional investors with the opportunity to invest in well-maintained and professionally managed housing, the demand for which continues to grow across the UK.
According to Hearthstone Investments, the institutional management of private rental properties delivers a better quality experience for residents than many homes available on the open rental market. Institutional investors are typically long-term holders of assets, who aim to set high standards of management and maintenance. All homes within Hearthstone’s portfolio are energy-efficient, providing institutional investors with the opportunity to strengthen their environmental and social credentials. Homes within Hearthstone Investments’ portfolio have a carbon impact of just 1.3 tonnes of CO2 pa compared with the average UK home emitting 6.0 tonnes pa.
Properties within the Hearthstone portfolio are aimed at providing groups such as key workers and young families on average incomes an opportunity to benefit from high-quality, well-maintained homes in attractive locations.
Andrew Smith, Chief Investment Officer of Hearthstone Investments, said: “The last 12 months have been key for the evolution of Hearthstone Investments. By working in partnership with developers and building in locations where there is substantial demand for private rented housing for occupiers on average incomes, the asset class becomes an attractive, resilient option for institutional capital in the longer term.
Our growing portfolio now numbers over 1,800 houses and apartments, in targeted communities across the country. In partnership with our investors, we are committed to ensuring those who choose to rent their homes can benefit from some of the best stock in their local area, with the confidence that their homes will be energy efficient, well maintained and well managed. This is something we are proud to supply.”
