Gresham House Residential Secure Income LP (ReSI LP), a limited partnership focused on investing to deliver much needed sustainable, affordable housing, has committed to a deal with leading residential developer Charles Church – a subsidiary of Persimmon Homes. The deal to deliver 61 shared ownership homes in Solihull bolsters ReSI LP’s appetite for forging long-term partnerships with UK national housebuilders.
ReSI LP and its wholly owned for profit Registered Provider subsidiary, ReSI Homes Limited, are managed by Gresham House plc, a listed specialist alternative asset manager with c.£5.4bn under management. The experienced Gresham House team has specialised in housing investment and development for over 20 years. The vision is to deliver a best-in-class product for shared owners via Gresham House’s Customer and Environmental charters to create sustainable, efficient, high-quality homes to support the growing demand for a more affordable route to home ownership.
Charles Church and Gresham House worked together to deliver best-in-class placemaking through quality of design, space standards, amenity spaces and fit-out specifications. Situated near Birmingham city centre and Birmingham International Airport, the scheme will comprise a mix of houses and apartments, with the benefit of private balconies. With Solihull’s house price-to-earnings ratio at 8.2x, the project also addresses a need for more affordable housing in the area.
Gresham House’s Housing strategy has committed to delivering more than £282m to secure 1,283 homes during 2021, working in partnership with housing associations, local authorities and private developers including in the Midlands’ Orbit Housing, Tilia Homes and Rise Homes.
ReSI Homes is also one of five for-profit providers recently selected as a strategic partner for the Greater London Authority, receiving £56m to support the delivery of 1,250 more shared ownership homes over the coming five years.
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