Real estate investment manager Long Harbour is to forward fund 193 single family homes (SFH) in Mowbray Village, Horsham, and 65 homes in Great Dunmow, Uttlesford, to be developed by private house builder Dandara.
The homes in Mowbray Village form part of a large parcel of land acquired by Dandara within the wider Mowbray Village masterplan – a significant mixed-use development on the northern edge of Horsham. Long Harbour’s homes occupy a prime location within the masterplan, close to Horsham town centre and within walking distance of Littlehaven Station.
Once complete, Mowbray Village will comprise 2,750 new homes, 500,000 sq ft of employment space, a supermarket, and a sports campus. A newly established school, comprising both primary and secondary sections, is now fully operational.
Located 30 miles south of central London, Horsham in West Sussex is regarded by property experts as a desirable and established residential location, with an affluent population and a growing rental sector. The town benefits from a variety of amenities, including a historic market square, a large central park and a modern shopping centre.
The homes in Mowbray Village are just 51 minutes from London by train and 6 miles from the nearest junction of the M23 motorway, which connects London to the south coast. London Gatwick, the UK’s second largest airport, lies just 10 miles north-east of the site, around 20 minutes by car.
Great Dunmow, Uttlesford, the site of Long Harbour and Dandara’s second transaction, is similarly sought-after and offers small town living within easy reach of London. A historic market town, Great Dunmow has a range of independent shops, bakeries and restaurants, and an affluent, well-educated workforce. Market analysis by Knight Frank forecasts 24.4% employment growth in the area by 2044, exceeding the 15% UK average.
The nearest train services are Stanstead Airport, accessed by bus, and Bishops Stortford, both providing direct travel into London to Liverpool Street or Tottenham Hale in under 48 minutes. Located in an aspirational area of West Essex, Great Dunmow is also a 43 minute drive to Cambridge, part of the globally significant knowledge-based economy of the Oxford-Cambridge Arc, and a 26 minute drive to London Stansted Airport.
The acquisitions were made on behalf of Long Harbour’s latest Single Family Housing Fund, which is currently deploying up to £600 million into single family housing assets. The vehicle has a total target raise of £1.2bn and is acquiring new-build family homes across the UK, with a focus on the South and South East of England.
Jack Spearman, Managing Director of Single Family Housing at Long Harbour, says: “This investment reflects our ongoing commitment to scaling our portfolio and meeting our ambitious deployment targets. Our strategic partnerships with housebuilders such as Dandara means we are able to deliver much-needed rental homes in sought after locations. Horsham and Uttlesford are vibrant towns, yet access to homeownership remains a challenge. By forward funding 193 houses in Mowbray Village and 65 in Great Dunmow, we are helping to meet the growing demand for high-quality rental homes.”
Paul Ebbs, Divisional Managing Director at Dandara, adds: “This is an important milestone for Dandara as we expand into West Sussex and West Essex and strengthen our presence in the South East and East of England. Mowbray Village and Great Dunmow are both fantastic locations, and we’re proud to be working with Long Harbour to help deliver high-quality, well-connected homes for rent and affordable living.
“As one of the UK’s leading developers in the institutional living sector, single family housing is a key priority for us – and partnerships like this are central to how we support long-term housing needs and create thriving new communities.”
Knight Frank advised Long Harbour on the transactions.
