Aviva Investors and Packaged Living fund £80m Kent resi scheme

Packaged Living and Aviva Investors have completed a deal to forward-fund the delivery of 121 homes in Ebbsfleet, Kent with a GDV of £80m from Chartway Partnerships Group. The funding is the eighth investment by Packaged Living and Aviva Investors as part of the joint venture’s £700m single-family housing rental strategy launched in 2021.  It is also the second transaction made from Aviva Investors’ Real Estate Active Long Term Asset Fund, following an investment in February, as part of a wider funding of 212 homes across two single-family housing developments in Milton Keynes.  The Chartway scheme is part of the Whitecliffe masterplan, which is expected to deliver more than 6,250 mixed-tenure homes across a 667-acre regeneration site and will form the largest development component of Ebbsfleet Garden City. The homes consist of one, two, three and four-bed houses providing much-needed rental housing, at an affordable level, for the local market. Jonathon Ivory, chief investment officer at Packaged Living, said: “As locations go, Ebbsfleet is straight out of single-family housing central casting; employment, schools, transportation, greenspaces, and retail all featuring strongly. By the end of this year, we shall be managing the homes of over 600 families with another 1,000 heading our way.“ Adam Forster, head of SFR at Chartway Partnerships Group, added: “The new development in Ebbsfleet will not only provide energy-efficient homes for rent, but also create a sense of belonging within a growing, vibrant and sustainable community. We are working with an increasing number of investors who share our vision to deliver new homes for everyone, including the growing single family rental sector. Together, we are not just buildings houses, we are creating communities where people can find a place to call home.”