Leveraging the opportunities presented by the financial crisis and the historically favourable EUR GBP exchange rate Prowgress and its stakeholders have made various multi-unit investments into new-build residential real-estate assets in the United Kingdom.
Our procurement is predominately focussed on distressed home builders looking to offload stock fast. To ensure the best possible acquisition price together with a quick turn around (from purchase to letting) we use a cash-based approach by utilising a mixture of Private Equity (PE) and Securities Backed Line of Credit (SBLOC).
We exclusively procure new build and are always acquired in multiples. The portfolio spans across various parts of the United Kingdom, including the North East and North West and includes cities such as New Castle, Stanley, Manchester and Preston. We just each proposition based on its individual merits in terms of location.
We are primarily focused on lower income areas and rent to DSS tenants. We also actively work with councils to combat and avoid homelessness where possible. We encourage long term rental agreements and give all tenants the opportunity to purchase the property (either on a first right of refusal basis or during the duration of the tenancy).
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