A H Field buys Foxlands Crescent

By James Buckley - Tuesday, January 09, 2018 13:49

Foxlands Crescent, a private estate of 51 apartments and six bungalows in Upper Penn, Wolverhampton, has been purchased by A H Field Properties for £5.35m.

The bungalows and flats, which are located in seven buildings, all feature two bedrooms. The estate also includes three garages, a site office and off-street parking for 68 cars.

A H Field is well known in Birmingham and the West Midlands for providing affordable homes for the UK’s PRS market and for fully managing, letting and maintaining all the properties through its own internal operations.

This acquisition increases its growing portfolio of residential assets across the West Midlands to circa 1,000 properties, of which 200 are in the Wolverhampton area. Over the last five years, A H Field has acquired similar properties in Wolverhampton, Walsall, Oldbury, Burton on Trent, Swadlincote, Kings Norton and Stechford.

Mark Hirschfield, CEO of A H Field Properties, said: "The acquisition of the Foxlands Crescent estate in Wolverhampton was a strategic bolt on to the Group’s existing holding in the region and as long-term investors in the PRS market, we continue to look for similar opportunities to ensure that we continue to provide quality accommodation for our tenants throughout the West Midlands”.

William Shoebotham, Associate at Allsop, added: “This purchase uniquely complemented A H Field’s existing portfolio and with HS2 due to give the area a welcome boost, Foxlands Crescent represented an ideal, long-term investment opportunity.”

Foxlands Crescent is ideally situated near Wolverhampton City Centre and enjoys quick and easy access to Birmingham, the country’s second city via direct train links from the local station. Residents at the estate are also anticipated to benefit from improved journey times to London (currently 1 hour 40 minutes by train) with the implementation of HS2. Whilst Wolverhampton city centre provides bars, restaurants, cafes and the historic Victorian West Park.

Allsop advised Evenbrook Estates Limited.

jbuckley@costar.co.uk

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