Gresham House Concludes Two New Housing Deals
Gresham House’s has committed to delivering more than £275m to secure 1,499 homes during 2021 working in partnership with housing associations, local authorities and private developers and including over 100 operational carbon neutral houses with ilke Homes – a first for the team.
In two exciting new deals focused on investing to deliver much needed sustainable, affordable housing, the team has committed to two shared ownership developments via Gresham House Residential Secure Income LP (ReSI LP). Located in Henley-on-Thames and Solihull, these comprise a total of 104 homes.
The deals bolster Gresham House’s appetite for forging long-term partnerships with UK national housebuilders, as well as supporting regional SME developers, via forward funding and forward purchase contract structures.
Gresham House’s experienced property team has specialised in housing investment and development for over 20 years. The vision is to deliver a best-in-class product for shared owners via Gresham House’s Customer and Environmental charters to create sustainable, efficient, high-quality homes to support the growing demand for a more affordable route to home ownership.
In Solihull, the Gresham House team and developer Charles Church have worked together to deliver best-in-class placemaking through quality of design, space standards, amenity spaces and fit-out specifications. Situated near Birmingham City Centre and Birmingham International Airport, the 61 homes will comprise a mix of houses and apartments, with the benefit of private balconies. With Solihull’s house price-to-earnings ratio at 8x, the project addresses a need for more affordable housing in the area.
In Henley-upon Thames, South Oxfordshire, the team has made a forward fund commitment for £12.6m with high-quality, SME developer Howarth Homes, that will deliver 43 shared ownership homes, with the support of Homes England.
All homes at this scheme are within walking distance of the town centre as well as beautiful countryside and will all benefit from private outdoor amenity space and allocated parking. Designed with sustainability in mind the units will utilise elements of off-site construction and provide solar panels and electric vehicle charging points. The scheme will expand the pool of affordable share ownership properties available in South Oxfordshire, which is an area of high unaffordability, with house price to earnings ratio at 10x.
Gresham House Residential Secure Income LP invests through ReSI Homes Limited, its wholly owned for-profit Registered Provider subsidiary. ReSI Homes is one of only five for-profit providers recently selected as a strategic partners to deliver new affordable housing across the country, and will receive £56m in grant funding from the Greater London Authority to support the delivery of 1,250 more shared ownership homes over the coming five years.