Investor buys 67 Burnley homes

By Bridging Loan Directory -

 

A private investor has picked up 67 houses in Burnley for £2.25m.

The portfolio was owned by Manchester-based Propertone which went into liquidation in August.

The price agreed for the estate means each house cost about £33,000. They are located in Burnley, Padiham, Accrington and Oswaldtwistle. The sale was handled by Manchester-based asset manager The Landwood Group.

Director Mark Bailey said: “The sale was agreed in a very short time period and all parties were very happy with the final value.

“We were able to complete the whole deal in just two months as the buyer did not require bank support. It demonstrates two things — there are still buyers in the market looking for value and when there’s no need for bank funding there are fewer hold ups.”

Established in Manchester in October 2008, Landwood provides advice on property, plant and machinery and business assets.