UK housing association Park Properties Housing Association (PPHA) is acquiring a portfolio of 179 affordable properties from housebuilder Persimmon Homes.
The schemes in the portfolio, offering a mixture of affordable rent and shared ownership, are located in Harborough District, West Northamptonshire, Babergh District, East Suffolk and Dorset Council areas.
PPHA, which is backed by social impact investor HSPG, said the homes will be built over the next two years.
HSPG is also continuing its collaboration with Persimmon Homes on other opportunities, including a recent, separate agreement for 45 homes in Coventry.
Daniel Watson, head of PPHA acquisitions, HSPG, said: “With more than 1m people currently on the social housing waiting list and 164,000 children living in temporary accommodation, we need to get more affordable homes on the market as soon as possible, and that is what we are committed to at PPHA.
“This portfolio purchase with Persimmon has given us the chance to bring even more high-quality affordable rent and shared ownership homes to completion, so people and families in need can have somewhere warm, safe and comfortable to live.”
Paul Rodgers, group director of partnership homes at Persimmon Homes, said: “This agreement will provide a major boost to affordable housing delivery across Leicestershire, Northamptonshire, Suffolk and Dorset in the next two years, providing sustainable and affordable homes for over 640 local residents.
“We have an excellent partnership with HSPG and Persimmon looks forward to working with them in future to deliver more of the high-quality affordable homes we so desperately need.”
To read the latest IPE Real Assets magazine click here.
