A portfolio of 179 affordable properties from Persimmon Homes has been purchased by PPHA, a registered provider of affordable homes.
The units will house 644 people, offer a mixture of affordable rent and shared ownership, with a range of one-bedroom apartments to four-bedroom houses available.
The homes will be built over the next two years, bringing affordable housing to areas of Leicestershire, Northamptonshire, Suffolk and Dorset.
Daniel Watson, head of PPHA Acquisitions, HSPG said: “With more than 1 million people currently on the social housing waiting list and 164,000 children living in temporary accommodation, we need to get more affordable homes on the market as soon as possible, and that is what we are committed to at PPHA.
“This portfolio purchase with Persimmon has given us the chance to bring even more high-quality affordable rent and shared ownership homes to completion, so people and families in need can have somewhere warm, safe and comfortable to live.”
PPHA is part of the HSPG group, a ‘social impact investor’.
PPHA has now committed more than £300m to increase the number of affordable homes available through the registered provider across the country.
The schemes included in the portfolio are located in: Harborough District Council (Affordable Rent); West Northamptonshire Council – (Affordable Rent & Shared Ownership); Babergh District Council – (Affordable Rent & Shared Ownership); East Suffolk Council – (Affordable Rent & Shared Ownership); and Dorset Council – (Affordable Rent & Shared Ownership).
Paul Rodgers, group director of partnership homes at Persimmon Homes added: “This agreement will provide a major boost to affordable housing delivery across Leicestershire, Northamptonshire, Suffolk and Dorset in the next two years, providing sustainable and affordable homes for over 640 local residents.
“We have an excellent partnership with HSPG and Persimmon looks forward to working with them in future to deliver more of the high-quality affordable homes we so desperately need.”
HSPG is also working with Persimmon Homes on a range of other opportunities having secured a recent site in Coventry, which is separate to this agreement, for 45 homes.
PPHA partners with housebuilders to create affordable homes and sustainable communities and remains committed to forming new partnerships with developers to meet growing housing needs.