London housing investor acquires six new homes in £1.6m deal

A London housing investor has announced its acquisition of six new homes for a total of £1.6m.

Residential Secure Income (ReSI), which invests in affordable shared ownership, retirement and local authority housing, has acquired the six new build homes from Metropolitan Thames Valley.

The acquisitions have been part-financed by a government grant, utilising the Homes England Investment Partner status that ReSI was awarded in March.

The properties are at Brampton Park in Huntingdonshire and consist of two, three and four-bedroom houses. All homes are under offer with shared owners and are expected to become occupied within the next month.

Ben Fry, investment manager of ReSI Capital Management, and head of housing at Gresham House, commented: “The Brampton Park acquisition exemplifies our commitment to deploy cash into high-quality shared ownership schemes, leveraging our recently closed ultra-long-term debt facility.

“Brampton Park has nearby rural amenities for families. It also has excellent transport access both within Cambridgeshire and beyond to London, the Midlands and the North via the A1/A14 and East Coast Main Line. It’s well-suited to the latest flexible needs of key workers and families.”

“The Covid-19 pandemic has redoubled investors’ search for resilient, uncorrelated income opportunities, and customers’ needs for secure, affordable, housing.

“We’re delighted to support Homes England’s shared ownership objectives and continue our successful partnership with Metropolitan Thames Valley Housing through this latest acquisition.”

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