Schroders Capital has acquired a newly completed 48-unit affordable housing scheme in Greenwich from Pocket Living for just over £12m.
The scheme, which was completed in spring 2025, was acquired with vacant possession by Schroders Capital via the firm’s UK real estate impact fund.
The development comprises 45 one-bedroom homes, two of which are wheelchair adaptable, and three two-bedroom homes.
The firm intends to let the apartments at discounted market rent, with rents capped at 80% of local market levels.
Chris Santer, head of UK positive impact investment and residential, at Schroders Capital, said: “This investment expands our pipeline of discounted market rent homes and reinforces our commitment to delivering affordability in areas where demand is strongest. By capping rents at 80% of local market levels, we can support households that are priced out of the mainstream rental market while maintaining a sustainable investment model.”
Rob Sheldon, partner at Bidwells, which advised Schroders, added: “London’s affordability pressures are unlikely to ease in the near term, which is why well-located, professionally managed discounted market rent homes are becoming a vital part of the housing mix. This transaction reflects the growing depth of capital looking for durable returns coupled with demonstrable social impact.”
CBRE acted for Pocket Living on the sale.
