Landlord-owned investment firm and asset manager make first £53m commitment to forward fund shared ownership homes

The delivery of the homes will be supported with a grant from the Greater London Authority. 

Ben Fry, fund manager at ReSI LP, said: “This first transaction under Gresham House and Thriving Investments’ new partnership marks one of ReSI LP’s most significant investments to date. 

“London is experiencing a severe shortage of affordable housing, and this investment aligns with both the UK government’s appeal for institutional collaboration in housing growth, aiming to accelerate the delivery of affordable, high-quality and energy-efficient homes, as well as the fund’s social impact commitment.

“Alongside the GLA’s grant support, which is critical in enabling us to achieve shared ownership status for the new residential units, the investment also continues our longstanding relationships with both Vistry and MTVH.

“Clapham Park represents a landmark development in our journey toward building a £1bn+ shared ownership portfolio over the next five years.”

The development is part of the broader regeneration project at Clapham Park led by MTVH and Countryside Partnerships.

Since 2005, the project has seen the delivery of 1,500 homes, with an approved masterplan in place for more than 2,500 homes. Currently, the 50/50 joint venture between Countryside Partnerships and MTVH has more than 840 homes under construction.

Heather Fleming, managing director – institutional business at Gresham House, said: “This collaboration harnesses our combined expertise and resources to deliver superior outcomes for our clients. It reflects the increasing demand from investors for shared ownership investments, driven by the need for stable income and long-term capital growth opportunities in the UK housing market.

“Customer service and environmental considerations should be priorities for investors in affordable housing, and ReSI LP remains dedicated to upholding its shared ownership customer and environmental charters. We are focused on building a stronger shared ownership sector by advancing the implementation of these charters, which aim to ensure homeowners are treated fairly while fostering positive environmental outcomes.”

Ms Fleming said she believes the shared ownership sector will play a crucial role in ensuring a sustainable supply of affordable housing, adding that ReSI LP has £120m of capital ready for deployment and active fundraising efforts underway.

Matt Painter, development director at Thriving Investments, said: “This project reflects our commitment to advancing additionality residential developments through forward funding. 

“With our first transaction now complete, we are focused on the future and are eager to collaborate with developers who share our vision for delivering affordable, shared ownership housing. We have the capital and the drive to pursue further partnerships that align with our mission of creating impactful residential communities.”