Henley Investment Management and joint venture partner Chartway Partnerships Group have secured forward funding agreements with Aviva Investors and Packaged Living for the delivery of 162 new homes in Ebbsfleet.
The 7.5-acre development at Alkerden Village, which sits within the wider 667-acre Whitecliffe development site, is expected to have a GDV of circa £80m.
The joint venture partners have secured detailed planning consent for the scheme and construction of 121 primarily single-family rental homes is due to get underway shortly. The remaining 41 plots, which are earmarked for affordable accommodation, have been acquired by housing association Moat.
James Stevens, head of real estate investment at Aviva Investors, said: “We want our Long Term Asset Funds to be the go-to option for the UK’s DC and wealth market. The residential and living sector is a critical part of our real estate investment strategy, whilst the scheme at Whitecliffe is a significant opportunity for us to develop an expansive scheme at the heart of a new community. We look forward to building a long-term relationship with Chartway and increasing the supply of homes which can help the UK get ready for the energy transition whilst delivering positive outcomes for retirement savers.”
Jonathon Ivory, chief investment officer at Packaged Living, added: “We’re pleased to welcome Chartway Group to our growing stable of house building delivery partners. As locations go, Ebbsfleet is straight out of single-family housing central casting; employment, schools, transportation, green spaces and retail – including the butcher, baker and candlestick maker – all featuring strongly. By the end of this year we shall be managing the homes of over 600 families with another 1,000 heading our way.”
Ian Rickwood, chief executive of Henley Investment Management, said: “With detailed planning consent secured, bringing on board market leading rental specialists in Packaged Living at this time demonstrates continued demand and a shared conviction in Ebbsfleet as a location and the opportunity to establish a community at Alkerden Village, Whitecliffe, where we know there is significant demand for new homes.”
Peter Nelson, director of Henley Camland, added: “This transaction is an important milestone for the ongoing development of the site as a different type of housing tenure is available. We are pleased to welcome Packaged Living to the top class development team who share the same commitment to quality, sustainability and community.”
Steve Cresswell, group CEO at Chartway Partnerships Group, said: “At Chartway, our vision is clear; to deliver new homes for everyone. We’re delighted to be continuing to play a role in developing new homes at Alkerden Village and work alongside our partners to provide new housing to meet the diverse needs of the Ebbsfleet community.”
Oliver Jolley, land director at Chartway Partnerships Group, added: “Thank you to team at Henley and the work behind the scenes to complete this deal. Securing reserved planning matters consent and forward funding agreements for the delivery of 162 new homes at Alkerden Village, Whitecliffe, is a testament to our dedication to sustainable development. Partnering with Henley Investment Management and Packaged Living, allows us to bring our vision of affordable and purpose-built rental properties to communities where new homes are needed the most.”
