Lloyds Banking Group PLC's (LSE:LLOY) residential landlord arm, Citra Living, has topped up its pipeline with the purchase of 159 family homes in Northampton and near Blackpool.
The purchase was agreed with privately owned housebuilder Morris Homes across two of their key developments, St Michael’s Park in Northampton and Prince’s Meadows in Kirkham.
Morris said "many" of them expected to be completed and available by the end of the calendar year and that 135 of the total would be completed before the end of 2025.
For Citra it follows a similar deal with FTSE 100 builder Barratt Developments earlier this year, where it bought 156 houses near Gloucester to take its portfolio above 2,000 properties around the country.
Andy Hutchinson, CEO of Citra Living, said: “At Citra we are committed to providing high quality homes to our customers. Working with Morris Homes at St Michael’s Park and Kirkham helps us to deliver this."