Citra Living, a subsidiary of Lloyds Banking Group, has announced plans to expand its rental property portfolio by adding 150 new family homes in Gloucestershire, in collaboration with Barratt Homes.
Strategic Growth Through Partnerships
The latest acquisition from Barratt Homes, the UK’s largest housebuilder, comprises 156 properties located in the Winnycroft Lane development in Matson, near Gloucester. This move is part of an ongoing strategic partnership aimed at bolstering the private rental sector by accelerating the availability of new homes. Andy Hutchinson, Managing Director of Citra Living, highlighted the region’s appeal, stating, “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.”
Diverse Housing Options for Families
The properties, a mix of 2, 3, and 4-bedroom homes, are part of a broader development plan that includes up to 420 units. The first homes are expected to be available for families to move into this summer, offering a significant boost to the local housing market. Steve Mariner, Sales and Marketing Director at Barratt Developments, commented on the development, saying, “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.”
Continued Collaboration and Future Projects
The partnership between Citra and Barratt has already successfully delivered over 1,500 homes across various projects in Bedfordshire, Northumberland, Lancashire, and the South West. This collaboration continues to focus on creating high-quality homes in desirable locations, fostering growing communities and meeting the increasing demand for rental properties. “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,” said Hutchinson.
This strategic expansion not only strengthens the housing options available in Gloucestershire but also sets a positive precedent for future developments in the UK’s private rental market.
