Lloyds Living acquires 206 homes across four schemes

The investor has struck a forward fund deal with Northstone for 108 homes in Lancashire and bought 98 completed properties from Peel Group’s built-to-rent arm Letta across sites in Bolton and Ellesmere Port.

Lloyds Living has bought a total of 206 homes across the North West to bolster its suburban build-to-rent portfolio.

At Northstone’s Keld development in Barrowford, Lancashire Lloyds has bought a mix of two-, three-, and four-bedroom homes. The units will be completed between June 2025 and December 2026.

Meanwhile, across two sites in Bolton and another in Ellesmere Port, the investor has taken control of 98 occupied dwellings.

“Building successful partnerships are the cornerstone of our strategy to expand the availability of quality homes in the rental sector,” said Matt Burgess, chief investment officer at Lloyds Living.

“These new deals mark our first with Letta and the multi-award-winning Northstone, who have a vision for offering quality and sustainability in their homes, that we share in delivering more of the homes people want in the places they want to live.”

Craig Nutter, managing director at Northstone said: “Northstone are looking forward to working with Lloyds Living in this new partnership to deliver much-needed homes.

“By exceeding building standards at Barrowford and designing for high energy efficiency and sustainability, we’re ensuring that renters can benefit from warmer, lower-cost homes without compromising on design or location.  We build communities and pedestrian led spaces and we look forward to seeing the team from Lloyds Living secure lettings for these homes as part of their growing portfolio adding to the offer and neighbourhood we’re building at Keld.”

The value of the deal was not disclosed.

Northstone and Letta were advised by CBRE and Squire Patton Boggs. Lloyds Living was advised by Savills and Pinsent Mason.