UK developer Golding Homes has finalised the sale of 180 affordable homes to NewArch Homes, a registered provider of social housing owned by a fund managed by Octopus Real Estate, a UK specialist real estate investor and lender.
Financial details were not disclose.
Located in Bexley, Dartford, Sevenoaks, and Wealden, the mix of 111 affordable rent, 68 shared ownership and 1 leasehold houses and flats are all between 2 and 6 years old. Housing management services will now be delivered by Southern Housing.
The operation is the first major deployment by the Octopus Affordable Housing Strategy, which aims to accelerate the much-needed delivery of quality, affordable homes in the UK. By both funding the construction of new housing and making strategic acquisitions of high-quality existing stock, the strategy works to increase the total capital available for the supply of affordable housing.
The fund carried out its first close in December and is now almost fully invested.
Peter Merchant, Investment director at Octopus Real Estate, said: 'At Octopus Real Estate our aim is to work with housing providers and local authorities to accelerate the delivery of affordable homes, and we’re pleased this transfer will allow Golding Homes to reinvest funds to further increase the supply of affordable housing in the local community.'
