Patron Capital has launched a new affordable housing joint venture with Oak Housing and its shareholders Bmor and T&B Capital. The joint venture is looking to acquire up to £100 million (€116 million/$141 million) of assets in the United Kingdom, with a target investment size of between £10 million and £20 million (€12 million and €23 million/$14 million and $28 million). The venture will have an initial focus on London boroughs in order to address the lack of good-quality accommodation and affordable housing.
The joint venture will look to acquire and convert suitable properties for the provision of general needs homelessness, temporary housing, section 106, keyworker and shared ownership opportunities. It has completed its first acquisition through the purchase of Kings Paget Hotel in West Drayton, Hillingdon. The 14,000-square-foot former hotel was acquired for £4 million (€5 million/$6 million) and will be refurbished and repurposed for use as high-quali
