Luxury residential firm Yoo has announced the launch of a £100 mln (€109 mln) luxury second home fund to buy country estates across Europe and North America for the roll-out of new projects under the Yoo Retreats brand.
The company is exploring locations within an hour or two of cities such as New York, Paris, Berlin, Barcelona and London.
‘Yoo is prioritising this expansion in recognition that people around the world are shifting their behaviour and spending more time away from city centres, particularly as businesses are recognising the efficiency and convenience of many of their staff working from flexible locations,’ the company said in a statement.
The company is behind the Lakes, a 900 acre private estate of second homes in the Cotswolds.
‘There has never been a more perfect time for a concept like the Lakes which gives residents, rental guests and investors the joy of owning a second home in an idyllic location as well as a high return of capital growth. Yoo Retreats will enable us to replicate this concept in a whole range of wonderful new locations around the world,’ said John Hitchcox, chairman and founder of Yoo.
