Vesta sell over 100 homes
May 31, 2018
The portfolio included 65 two, three and four-bedroom houses and 39 two-bedroom flats in Bristol, Gloucester and Hampshire.
A spokesperson for Oak comments: “Vesta provided a very competitive option within their marketplace, providing maximum reach to an assortment of potential buyers. This ensured that the best price could be achieved and their competitive fee structure offered great value.
“Importantly, selling properties with tenants in place is both socially and commercially positive. It not only creates stability for tenants but also preserves rental income for both the seller and the buyer.”
Vesta the digital property marketplace for the private rented sector (PRS) launched earlier this year, recognising the huge opportunity that exists in one of the UK’s largest and growing property sectors.
The marketplace, for buying and selling properties is expected to transform the PRS, encouraging both transparency and scalability in a historically fragmented market.
Russell Gould, Vesta’s Chief Executive, comments: “This recent transaction demonstrates our marketplace working in practice – a process that we believe will be the norm for the residential investment property sector in the next few years.
Our aim is to bring together housebuilders, developers, buy-to-let sellers, buyers and property investors, allowing all parties to move quickly with simpler and assured processes – truly revolutionising the PRS sector.
“Vesta is building a unique marketplace that brings together the entire spectrum of PRS including traditional rental, Airbnb, Holiday Lets, HMOs and in the near future BTR property offerings. The key theme is the properties are already, or have the potential to be, income generating.”
The innovative and bespoke Vesta web platform delivers a faster, more efficient, secure and robust buying and selling experience. Using the latest in marketplace technologies, each property comes with full documentation including tenant history, valuation reports and surveys which will aim to increase completions, speed and a buy process that will reduce the chances of gazumping. Additional features of the Vesta online marketplace include:
- Certainty – A customer can buy a tenanted rented property, using the Vesta “Sure Sale” process which has 3 key pillars – 1) Transparency via data and documentation 2) Commitment via the buyer and seller with competitive fees, and 3) Deal Protection that prohibits any new offers from 3rd parties after negotiations have been concluded between buyer and seller.
- Competitive Fees & Increase Revenue - private landlords can sell their BTL properties via a dedicated professional marketplace, with tenants in situ so reduced voids.
- House-builders and developers - Can sell their show homes, stock units and new homes (including build-to-rent) to UK and international investors
- Professional management - Vesta always promotes the existing managing agents when a property is referred by them however can also provide a property management service, on landlord request.
- Select profitable locations - Buyers can select properties across a range of geographies and choose where they believe they can get best returns in rental yield and or capital value increase.
For more information about Vesta’s core products and the Vesta process, visit the Vesta website at www.vestaproperty.com.
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