In the face of rising rents and the nationwide housing
crisis, Hearthstone Investment Management has put together a £100 million fund
to buy clusters of houses and low-rise blocks in areas where there is sold
rental demand. The Hearthstone Residential Fund 1 has five local authority
pension funds as cornerstone investors, including the West Midlands Pension
Fund and Staffordshire Pension Fund. The other three backers are the local
authority funds in Nottinghamshire, Derbyshire and Teeside. The fund will
invest in UK regions, buying newly-built clusters of houses and low-rise blocks
in areas of solid rental demand that appeal to families and young
professionals. Read more on the Express & Star website.
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