Barwood Capital is to embark on an additional £23m development programme after buying three sites in the South East for its 2015 Property Fund.
The Northampton-based investor said its residential development arm now has 145 units under construction, with a market value of £60m.
A site in Shefford, near Milton Keynes, formerly occupied by drinks wholesaler Matthew Clark, has been acquired in a joint venture with Resolution Property Group. Existing distribution buildings will be demolished to make way for 26 homes, seven of which will be affordable.
In Basingstoke, Barwood has bought The Lamb Inn with Kidbrook Homes and will demolish the pub to make way for 10 homes. Another site in Surrey has been acquired in partnership with Kidbrook and has capacity for a further 26 homes.
Steve Chambers, director at Barwood, said: “Since 2016 we have acquired well located residential development sites with our carefully selected development partners. This has been a strategic move to complement our office, logistics and industrial development portfolios.”