The fast-growing property portfolio of Lloyds Banking Group has made its second large-scale growth announcement within a week.

A few days ago Lloyds Living – the Build To Rent division of the banking group – announced it was buying 980 new homes from Barrett Redrow.

Now it’s announcing that it is buying 104 homes from property developer Gleeson Homes. The units will be in two developments in the Midlands.

The acquisition brings Lloyds Living’s total portfolio to over 8,850 homes.

In relation to the latest deal Allen Marshall, regional managing director at Gleeson Homes, comments: “It’s an exciting time for our region as we partner with Lloyds Living across two developments. 

“Both agreements demonstrate the strength of our relationship and our shared commitment to increasing the supply of high-quality homes in the areas where they are needed most. 

“Together, we are helping to create thriving communities while providing residents with better access to affordable, energy-efficient homes.”

And Matt Burgess, chief executive of Lloyds Living, adds: “We continue to build on our relationships with housebuilders, like Gleeson, to increase the supply of professionally-managed, quality single-family homes available to rent across the country.

“Partnerships, like this … are key to increasing the number of homes being built for buyers and renters alike – giving more people the opportunity to live where they want, in the good quality kind of new homes they want to live in.”

A statement adds: “Lloyds Living bring extensive experience in providing professionally managed rental homes in desirable locations, offering residents high-quality, sustainable and hassle-free living. 

“Gleeson Homes’ commitment to delivering exceptional value, energy-efficient homes align closely with Lloyds Living’s ambition to expand access to quality housing across the North of England and the Midlands.”