Alternative asset manager, Gresham House, has formed a partnership with leading social impact real estate firm HSPG. The partnership will help the business build a portfolio of shared ownership and affordable housing. 

Gresham House has the option to acquire HSPG’s shared ownership properties on completion of the units, while HSGP will remain responsible for selling the properties. The asset manager expects to acquire at least £50mn of properties as part of the deal over the next three years. 

Guy Horne, chief executive at HSPG, said: “Gresham House is a natural partner for HSPG, and we are thrilled to work with one of the UK’s most respected social and affordable housing investors. This partnership builds on our rapid growth in the social housing sector, having already deployed in excess of £650m on much-needed housing across the entire country. As we continue to build on our success in the market, this funding provides further confidence that we will be able to deliver more socially impactful housing for our communities.” 

“The acquisition in Felixstowe is expected to be the first of several under this partnership, and we look forward to announcing more transactions with HSPG in the future.”

All about the partnership 

Gresham House continues to build shared ownership and affordable housing spaces in the UK, with ReSI plc and the ReSI LP fund.

The alternative asset manager has already acquired 21 completed homes at the Laureate Fields development in the coastal town of Felixstowe in East Suffolk for £2.7m. The homes being acquired are the S.106 component of a larger 197-unit masterplan development with detached, semi-detached, and terraced two storey houses, developed by Generator Group.

The properties will be held in Residential Secure Income (ReSI plc). Earlier this year, ReSI plc acquired 182 shared ownership freehold houses in the South East and East of England, and 39 new build shared ownership homes in South London. 

Guy Horne, chief executive at HSPG, said:  “Gresham House is a natural partner for HSPG, and we are thrilled to work with one of the UK’s most respected social and affordable housing investors. This partnership builds on our rapid growth in the social housing sector, having already deployed in excess of £650m on much-needed housing across the entire country. As we continue to build on our success in the market, this funding provides further confidence that we will be able to deliver more socially impactful housing for our communities.”