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UK: Real estate investment manager PATRIZIA has announced plans to commit a further £1 billion to UK resi through its newly established UK Essential Living Platform.
The new platform could potentially support the delivery of up to 4,000 affordable homes. PATRIZIA’s proposed £1 billion commitment will build on the £4 billion the company has already invested across the UK.
The Essential Living Platform is intended to channel long-term institutional capital into affordable residential development, bringing together private investment and local public sector partnerships to help overcome the financial barriers currently affecting housing delivery.
A central part of the strategy will involve closer collaboration with metro mayors and regional authorities, identifying opportunities where investment can support new residential schemes and respond to local housing requirements.
PATRIZIA has confirmed that a Regional Dialogue meeting will take place next year, providing an opportunity for local leaders and investment partners to explore potential development opportunities and establish how the funding could be deployed.
Asoka Wöhrmann, chief executive officer of PATRIZIA, met with UK prime minister Andy Burnham in Berlin, and said the discussions had reinforced the significant opportunity presented by the UK’s continuing demand for affordable housing.
“Our meeting with the Prime Minister reinforced a clear reality: the UK’s demand for affordable housing is also a significant investment opportunity. PATRIZIA is already investing in homes across the country, and we see considerable potential to do more. By working with metro mayors and local partners, we can help channel long-term institutional capital into the places where housing is needed most. Neither public nor private capital can solve this challenge alone, but together we can accelerate delivery and create lasting value for communities across the UK.”
The PM added: “Growth has to reach every part of the country, not just a few places. Germany has shown what strong regions and local leadership can achieve, and we want to learn from that and share our own experience.”
Highlights:
- Real estate investment manager PATRIZIA has announced plans to commit a further £1 billion to UK resi through its newly established UK Essential Living Platform.
- The new platform could potentially support the delivery of up to 4,000 affordable homes
- The Essential Living Platform is intended to channel long-term institutional capital into affordable residential development, bringing together private investment and local public sector partnerships to help overcome the financial barriers currently affecting housing delivery
- Asoka Wöhrmann, chief executive officer of PATRIZIA, met with UK prime minister Andy Burnham in Berlin, and said the discussions had reinforced the significant opportunity presented by the UK’s continuing demand for affordable housing
