M&G Real Estate (M&G) has acquired 211 affordable homes in West Sussex from the Hyde Group thanks to a £29m investment by the M&G Affordable Living Fund.
The mix of two- to four-bedroom houses and low-rise apartments, which are located in the Wildbridge development in Yapton, near Chichester, are managed by Pinnacle Group, part of Hyde Group.
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 of Hyde Group, added: “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.”
