Man Group’s private markets investment business Man GPM has agreed a deal with Taylor Wimpey, for an undisclosed amount, to forward fund the development of 96 single family homes for rent at its Stanhope Gardens project in Aldershot, Hampshire.
The homes will be offered at discounted market rent levels to ensure they are accessible to median income households.
Shamez Alibhai, managing director and head of community housing at Man GPM, said: “The UK has long been one of the least affordable housing markets in the world, and this has been exacerbated by the cost-of-living crisis – we know growing numbers of people are living in unsuitable accommodation. The Stanhope Gardens development is a good example of how we can put institutional capital to work on meaningful projects that deliver positive social outcomes.”
Tom Shaw, investment director at Man GPM, added: “Our partnership with Taylor Wimpey on this development proves what’s possible when likeminded partners work together to unlock solutions to address the UK housing crisis. Our vision is to provide essential and key workers with homes that meets their needs but also enhance their overall quality of life.
“By incorporating local schools and promoting community building, we aim to create a thriving neighbourhood that positively impacts both residents and the wider community, while generating positive returns for investors.”
