M&G Real Estate has acquired 211 affordable homes from the The Hyde Group in West Sussex through a £29 million investment by the M&G Affordable Living Fund (the Fund), helping to address growing demand for high-quality, energy-efficient housing. The homes are in the Wildbridge development in Yapton, near Chichester, and are managed by Pinnacle Group, part of Hyde Group, alongside M&G’s wider affordable housing portfolio.
All homes are EPC A-rated and benefit from air source heat pumps and integrated solar panels providing renewable energy, helping residents to reduce household running costs. The UK Government has set a target to deliver 1.5 million homes this Parliament, with affordable housing at its core. Long-term institutional investment has an important role to play in supporting housing delivery by working alongside housing associations and local authorities to increase the supply of high-quality affordable homes for communities across the UK.
Chris Jeffs, Manager of the M&G Affordable Living Fund, said, “This investment reflects the role long term capital can play in expanding access to the highest quality, energy efficient affordable homes. By working in partnership with an experienced provider such as Hyde in this instance, we can support the delivery of much needed housing while helping to create stable, long-term value for our clients.”
Andy Hulme, Group Chief Executive, Hyde Group, said, “We’re delighted to have continued our partnership with M&G through this latest transaction, which demonstrates the valuable role long-term institutional investment can and must play to help tackle the housing crisis and to support the ongoing delivery of affordable homes. Pinnacle Group, which is part of Hyde, will offer high-quality management services, demonstrating the end-to-end offer we provide partners and customers.”
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*Offer ends on Friday, 7th February.
