The 118 properties, which are spread across developments in Glasgow, Edinburgh, Paisley, Rutherglen and Hamilton, has been sold by Places for People to private clients of Tay Letting for some £10 million.
Savills director George Hepburne Scott, who acted for Places For People, said: “The fact that this portfolio attracted considerable interest from a range of parties underlines the growing strength of the private rental sector (PRS) market in Scotland.
“The market has been driven by rising urbanisation, smaller households and increasingly unaffordable house prices.”
The purchasers were represented by Tay Invest and Scarlett Land and Development. Will Scarlett of Scarlett Land and Development said: “This transaction, which started pre-Covid, demonstrates once more the resilience of the private rental sector as a relative safe-haven for investors at a time of economic uncertainty.”