Lloyds Banking Group expands private rental portfolio...

Citra Living, part of Lloyds Banking Group, is to bring more than 150 new family homes to the rental market in Gloucestershire.

Citra, which owns and operates a portfolio of more than 2,000 homes across the UK, has acquired 156 new properties from the country’s largest housebuilder Barratt as part of a strategic partnership between the two.

The homes are situated at Barratt Homes Bristol’s new Winnycroft Lane development in Matson, near Gloucester.

The portfolio acquired by Citra includes a mix of 2, 3 and 4-bedroom properties, with the first homes expected to be ready for families to move in this summer.

The Winnycroft homes 3.5 miles south of Gloucester are part of a wider housing development of up to 420 units.

Citra and Barratt Developments’ strategic partnership aims to bring forward new homes in the private rental sector more quickly.

Since announcing the partnership, Citra and Barratt have brought more than 1,500 homes across projects in Bedfordshire, Northumberland, Lancashire and the South West.

Andy Hutchinson, managing director of Citra Living, says: “Gloucestershire continues to be an attractive location, in no small part thanks to the growing knowledge economy, transport links and access to both country and city living. Following a decade of growth and investment, it’s the perfect place for families to put down roots.

“Our long-standing partnership with Barratt has created a significant portfolio of high-quality homes – growing communities and delivering homes in places where people want to live. We look forward to welcoming our first customers to Winnycroft as we reach this latest milestone in the partnership which will pave the way for more new schemes in future.”

And Steve Mariner, sales and marketing director at Barratt Developments, adds: “Winnycroft is an excellent development that showcases our ongoing partnership with Citra really well. It brings new homes to the private rental sector in Gloucestershire where they join a thriving new community ready for people to move in this summer.”

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Andrew townshend
02 May 2024 09:50 AM

I bought a house from Barrett few yrs back, it wasn't a new build it was a Victorian terrace which they had taken in part exchange to move one of their new build flats, I had a flying deal, still have it and it rents well with no issues

A S
02 May 2024 09:05 AM

Correct Michael. But you look at the residents of those particular blocks and for them, it is an upgrade, taking into account where they come from. That's one of the problems with mass migration, standards get lower rather than higher, as the base level is lower than our own.