Savills plc

06/21/2022 | Press release | Distributed by Public on 06/21/2022 02:02

Savills Capital Advisors advises Flint Housing on partnership with Morgan Stanley Real Estate Investing

With MSREI's financial backing, the partnership has significantly expanded its ambition in providing new build, high-quality affordable housing across England, with an intention to increase Flint Housing's investment capacity over the coming years to over £1 billion.


Flint Housing will continue to focus its investment strategy on land-led transactions, forward funding new-build affordable housing schemes within and outside of the s106 framework to help accelerate delivery whilst underpinning sustainable growth for developers, and in particular SME housebuilders. Flint Housing will also look to work with high-quality modular housebuilders to enhance speed of delivery and energy efficiency of new homes.


The core strategy will focus on smaller s106 schemes (~15 - 50+ s106 home schemes) as well as non-s106 affordable housing developments of up to 100+ homes across the affordable rent, social rent and shared ownership tenures.


Flint Housing will also seek to explore opportunities for partnerships with other registered providers that would support the delivery of more homes and upgrading of existing homes.


Eugene Schreider, CEO of Flint Housing, said: "We are delighted to have partnered with MSREI. This partnership will allow us to further accelerate our new-build affordable homes development pipeline and to begin to explore other innovative structures with partners, including local authorities and other registered providers. Our overarching aim remains to work with regional and local authorities in meeting affordable housing objectives and to generate a positive impact for residents through the provision of high-quality homes and attentive management."


Shamik Narotam, Managing Director in MSREI, said: "The UK has a well-documented need for affordable housing and this is likely to grow further with current cost of living pressures. We look forward to working with the Flint Housing team to provide high quality affordable homes to those who cannot rent or buy in the private market."


Sam Isaacs, Director, Savills Capital Advisors, said: "The UK's housing crisis is severe and worsening. This transaction comes at an important time for the UK's housing market, which is in significant need of additional affordable housing of all tenures, and we are proud to have advised Flint Housing on this important partnership."


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