Gresham House celebrates topping out at landmark Henley affordable housing development

Gresham House has celebrated the topping out of a landmark affordable housing development in Henley-on-Thames, South Oxfordshire.

Comprising 43 shared ownership flats across two buildings, the development is the first in Henley made up entirely of affordable housing and addresses a significant local need, with a house price to income ratio of 12X in the area compared to the national average of 8X. A mixture of one and two bed flats, the project will include a shared courtyard and children’s play area. The site is only a short walk from a wide range of local amenities including Henley railway station, which provides easy access to Central London.

Funded by Gresham House’s Residential Secure Income LP (ReSI LP), a limited partnership investing in shared ownership housing, the project has been developed as part of a joint venture between Gresham House and award-winning SME developer Howarth Contractors. It is set to be completed in Summer 2024.

The milestone continues a busy period of activity in the UK housing space for Gresham House, which has now deployed c.£800mn of capital into the space, investing in c.6,000 homes across shared ownership, build-to-rent and retirement living.

Gresham House aims to deliver social benefits by lowering the lifetime cost of housing for lower and middle-income people, while providing investors with secure, long-term, and inflation-linked income returns. The ReSI LP strategy has received strong backing from UK institutional investors, including both corporate pension funds and local government pension schemes, since its launch in May 2021.

Matthew Painter, director of development and delivery at Gresham House, said:

“This is a significant milestone for a truly impactful development for the local area. As the first fully affordable housing development in Henley, the project will help to address an acute lack of affordable housing for local people. We are pleased to have partnered with Howarth Contractors, a leading regional developer, to deliver the site, which will make a real difference to local communities.”

Ben Searle, managing director at Howarth Contractors, said:

“We’re delighted to be celebrating our topping out event to mark this important milestone at our development in Henley with Gresham House. We look forward to completing this project, our first with Gresham House, which will deliver much needed affordable housing to the local community.”

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