Caro acquires 38 homes from troubled Social Value Housing

Acting for Recognise Bank, receiver Watling has sold the Liverpool City Region residences to the investor and developer.

Caro Estates’s new properties are located throughout the city region, including in Liverpool, Kirkby, and Bootle. They range from two-bed apartments to three-bed mid terrace houses to four-bed semi-detached properties.

The company plans to renovate the residences over time.

“There’s strong reversionary potential in the portfolio and with a targeted refurbishment programme we’ll be able to bring vacant properties quickly to market via our in-house team at Caro Lettings,” said Neil Carlyle, managing director at Caro.

Caro did not disclose the price paid for the portfolio.

Watling had marketed the assets for £2.75 initially, with director Chris Walker noting that there had been “some very competitive bids received”.

“We were pleased with the market response to the opportunity,” Walker said, adding later: “We wish Caro all the best with their ongoing investment.”

The homes come from the portfolio of Social Value Housing, which was formed in April 2020. Watling was appointed as receiver to the company in November last year.

For three years, between January 2022 and May 2025, Social Value Housing was led by Peter Mitchell, according to Companies House.

Mitchell, a former councillor in Croxteth, stepped down last year during the collapse of his Big Help Group empire.

A series of companies and organisations headed by Mitchell, along with his partner Colette Goulding (a councillor for West Derby Muirhead), are understood to being the subject of  investigations by the Charity Commission and the Serious Fraud Office. The Serious Fraud Office said “In line with long established practice to avoid prejudice to law enforcement activity, we can neither confirm nor deny any investigation into this matter.”

Both Mitchell and Goulding were declared bankrupt in May last year.

To return to the Social Value Housing portfolio sold to Caro – the deal was facilitated by funding from Together.

Together corporate lending director Ritchie Watson said: “Having worked with Neil Carlyle and the Caro Estates team since 2016, we’ve seen the business evolve into a highly experienced, multi-disciplinary operation that manages every stage of the property lifecycle, from acquisition and development through to lettings and ongoing asset management.

“This latest acquisition is another excellent example of Caro’s ability to identify opportunities where its expertise can unlock value. The business is well positioned to enhance the properties, improve the customer offering and create a stronger, income-generating asset for the long term.”

Caro and Watling were represented by Brabners and Glaisyers, respectively.