Housing association Metropolitan Thames Valley Housing has completed a £60m sale of 132 private sale units at its Clapham Park development, a regeneration scheme in south west London.
The deal has been agreed with for-profit registered provider, ReSI Housing (ReSI), and the units have been converted from private sale to shared ownership.
Metropolitan Thames Valley Housing will retain management of the homes and will sell the properties through its shared ownership brand, SO Resi. The 132 homes will be held in ReSI Housing, a wholly owned subsidiary of Residential Secure Income.
Kush Rawal, director of residential investment at Metropolitan Thames Valley, said: “This is an exciting partnership with ReSI Housing as we work together to deliver on a simple aim; to increase the supply of affordable housing.
“At MTVH we’ve always recognised partnership working as the cornerstone of our success.
“The sheer volume of homes that our nation needs will require us to come together and work in innovative ways to help meet the growing challenges faced by the industry.
“By bringing the public and private sector together in this way, we can take great strides to help meet these targets with purpose and urgency.
“Shared ownership has always been an important part of our history and will certainly play an increasingly important role as we attempt to meet future affordable housing needs.”
This post has originally been featured in Property Wire.