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For-profit provider acquires more than 100 shared ownership properties in £44m deal

A for-profit housing association has purchased more than 115 properties, the majority of which are shared ownership, as part of a new development in the South of England.

St Arthur Homes has purchased 104 shared ownership, 10 private sale and four affordable rent homes (picture: St Arthur Homes)

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St Arthur Homes is purchasing 118 homes on a site being developed by Vistry Group #UKhousing

St Arthur Homes has signed a £44m deal to purchase 104 shared ownership, 10 private sale and four affordable rent homes at the Whiteley Meadows development in Winchester.

It is the second phase of homes that St Arthur has purchased from the 3,000-home site, which is being developed by Vistry Group in partnership with others.

Richard Cohen, chief executive of St Arthur Homes, said: “We are very excited to be preparing to launch the second phase of properties, which we anticipate will be just as popular. An acquisition of this size would typically take around six months to complete and we are proud to have turned it around in just four weeks.”

St Arthur Homes has been registered as a for-profit housing provider since 2013, however the organisation ramped up its activities in late 2020 after receiving funding from European investment firm ESO Capital, which is now called Matter Real Estate.

It currently operates across the South of England and is now expanding to the Midlands as part of plans to own at least 2,000 homes by 2026.

Mr Cohen said the firm is “pleased” to continue working alongside partners, such as Vistry, as it continues to grow its portfolio.