You are viewing 1 of your 1 free articles
Shared ownership investor signs deal with developer for 167 homes in South West
A shared ownership investor has signed a £40m deal with developer Countryside for the acquisition of 167 homes in the South West.
The deal between real estate investment trust Residential Secure Income (ReSI) and developer Countryside Partnerships will see 167 new homes built in Chippenham, Wiltshire.
The homes, a mixture of houses and apartments, are located at Langley Park, a brownfield site in a former industrial area now being turned into affordable housing.
They will form part of a larger 340-home project being developed at the site, with Countryside Partnerships selling the remainder of the properties directly to the open market.
READ MORE
According to ReSI, the shared ownership homes will be delivered to Energy Performance Certificate Band A through a combination of a “fabric-first” approach to design and the installation of ground and air source heat pumps. All the homes will have private outdoor space.
Construction is scheduled to begin on the site in mid-2023, with the first completions to take place in the third quarter of 2024.
Gresham House, which owns ReSI, has now invested in more than 2,150 shared ownership homes.
In December, the fund acquired 469 shared ownership homes in Cornwall for £46m, which followed funding for 163 new homes in Somerset and Kent in November.
Narvinder Khossa, director of new business – housing at Gresham House, said: “We’re pleased to continue a busy period of activity for ReSI LP with this deal, which will further strengthen the fund’s robust income streams and support the delivery of much-needed affordable housing in Chippenham, especially given the challenging macroeconomic environment.”
Marc Thompson, divisional managing director at Countryside Partnerships, added: “This transaction will support the completion of the Langley Park development, delivering vital housing for local residents, and will unlock further capacity for us to develop sustainable, high-quality homes up and down the country over the coming months.”
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
