Gresham House ReSI LP acquires 163 properties in double Stratton Land deal

Gresham House Residential Secure Income LP (ReSI LP), a limited partnership investing in U.K. shared ownership, has agreed to fund a duo of housing developments from SME property developer Stratton Land, adding 163 properties in Minehead and Eastry to its portfolio.

The strategy aims to increase the provision of shared ownership housing, with both investments located in areas of constrained housing supply and house prices unaffordable to young families and key workers.

The first transaction, the forward purchase of 69 houses just outside Minehead, Somerset, was exchanged in late August. The first homes on the site are expected to be completed in January 2023, located in an area of constrained historic new build supply, where house prices currently stand nine times higher than the local area average earnings. Gresham House has upgraded all the properties to meet EPC A standards for energy efficiency through the incorporation of a “fabric first” approach to design an