Real estate investment manager Long Harbour is to forward fund the delivery of 111 single family homes (SFH) in Ditton, Kent.
The company will acquire the 111 homes at Orchard Mill from Miller Homes. The site consists of one, two, three and four bed units overlooking orchards and open fields and is located close to local primary schools, a community centre with sports facilities and Ditton Quarry Nature Reserve.
The area is close to several important regional employers in Kent, such as Maidstone Hospital and the headquarters for both Kent Police and Kent County Council, so is expected to attract a high proportion of keyworkers. It is also easily commutable to London.
The acquisition was made on behalf of Long Harbour’s latest Single Family Housing Fund (LHSFF), 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.
Linking investments
Orchard Mill creates a physical and operational link between LHSFF’s existing investments in Essex and West Sussex, consolidating close to 500 contracted units in the South East.
Jack Spearman, managing director of single family housing at Long Harbour, says: “The latest investment into our Single Family Housing Fund marks another significant step in our expansion across the London commuter belt. Ditton is a desirable residential location with a growing population, and these homes will meet the strong demand for high-quality homes in a well-connected part of Kent.” Long Harbour were advised on the transaction by Knights. Matthew Bench, group managing director, partnerships, at Miller Homes says: “This deal underlines Miller Homes’ continued growth in partnerships housing and further establishes us as a trusted delivery partner. Future residents can expect high-quality, energy-efficient homes within a vibrant new community.”
