Registered provider Worthing Homes has purchased nine s106 homes from Newship Developments on a site in West Ashling near Chichester.
The houses, which were built on the site of a former paddock, are part of a wider development comprising 17 units. Worthing Homes said it was keen to do more deals of this ilk to build up its residential portfolio sustainably.
Simon Corp, partner at Rapleys, which advised Newship Developments on the deal, said: “This deal is a great example of smaller stakeholders working together to deliver high quality homes that are both private and affordable. It demonstrates that the sector can collaborate effectively and, while only small in terms of unit numbers, more of these deals nationwide between likeminded partners, will help to drive the sector forwards. In 2024, we expect to see more of this collaboration where both parties maximise value for each other and perform effectively as a result. The right partner, of course, is crucial, but the sector needs more of this type of deal, no doubt about it.”
