Gresham House Residential Secure Income, a limited partnership investing in UK shared ownership, has signed a funding deal for two housing developments from SME developer Stratton Land, adding 163 homes in Minehead and Eastry to its portfolio.
The agreement for the site in Minehead, Somerset, was exchanged in late August, and forward purchased 69 homes with completion due in January 2023.
In Eastry, Kent, Gresham House Residential Secure Income has agreed to forward fund the development of 94 houses. Situated three miles outside Sandwich, the former brownfield site will see houses completed and handed over for shared ownership buyers from Q4 2023 to Q1 2025.
Stratton Land were advised on both transactions by specialist investment broker Whitedrake.
Stratton Land managing director Sebastian Arbis said: “These deals will support our continued growth across Southern England, enabling us to redeploy capital into our ambitious pipeline of developments.”
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