Winckworth Sherwood supports £1bn housing investment

Winckworth Sherwood is bringing its expertise to the ongoing housing crisis in the UK through its recent advisory role for Park Properties Housing Association (PPHA), which is set to leverage an investment exceeding £1 billion from Sixth Street. PPHA operates as a for-profit registered provider of social housing, collaborating closely with HSPG, recognised as a leader in the social and affordable housing sector.

This significant infusion of equity capital from Sixth Street is designed to bolster PPHA’s objectives, allowing it to deliver high-quality, new-build homes that contribute to sustainable communities while setting a new standard for affordable living. Plans include a range of affordable tenures such as affordable rent, social rent, and shared ownership targeted at areas with the greatest need. “For-profit registered providers play a vital role in the development and management of affordable homes across the UK. We are delighted to have played a key role in this significant investment by Sixth Street,” stated Matt Cowen from Winckworth Sherwood.

With PPHA already boasting a pipeline of 1,100 homes along with a further 4,000 identified for future development, the partnership not only enhances PPHA’s capacity but also brings together Sixth Street's London-based real estate team and HSPG's affordable housing expertise.

Guilio Passanisi from Sixth Street remarked, “This investment marks a significant expansion of Sixth Street’s ongoing commitment to the UK residential market.” He emphasised that this partnership seeks to address the pressing issue of quality housing shortages in the UK. HSPG's CEO, Guy Horne, echoed this sentiment by stating, “This partnership marks a significant step in scaling PPHA as a leading platform for affordable housing delivery.”

The collaborative efforts are expected to make substantial advancements in the delivery of affordable housing, ensuring a focus on quality construction and long-term outcomes for customers and local communities alike. Notably, this endeavour also highlights how institutional capital can play a crucial role in mitigating the existing imbalances in housing availability, thereby making a positive impact in the sector.

When it comes to the advisory side, Winckworth Sherwood’s team, led by Partner Matt Cowen and supported by colleagues Rebecca Jason, Koula Lemos, Richard Tinham, Chris Garrett, and Jon Woodall, provided comprehensive advice focusing on regulatory, governance, funding, and tax aspects of the investment.

The synergy of Sixth Street's resources and HSPG’s industry know-how, all facilitated by Winckworth Sherwood's advisory support, positions PPHA favourably to lead the charge in fulfilling the demands for affordable housing across the nation, transforming the living conditions for many in underserved areas.