Housing developer Pocket Living has completed the sale of two affordable rental assets in London for over £70 mln (€81 mln).
The deals encompass over 250 homes across London, the majority for rent at discounts to market and demonstrate the investor demand for well-priced rental assets in London.
Advised by CBRE, Pocket has just completed the sale of a 197-home asset at Osier Way. Pocket has also completed the sale of an affordable rental scheme at King’s Cross to CBRE Investment Management (CBRE IM) on behalf of its UK Affordable Housing Fund. Cadence, a development of 60 homes, provides housing to local people in Camden.
Paul Rickard, Chief Financial Officer at Pocket Living, said: 'It should not be underestimated how important this milestone is for the development and growth of Pocket Living. For 18 years, we've been at the forefront of innovation in London's housing sector, and our delivery in the rental market is a continuation of this legacy. We remain deeply committed to providing affordable housing for working Londoners, and these two developments are a testament to this commitment.'
