Thriving Investments, the socially conscious fund manager, and Gresham House, the specialist alternative fund manager, have committed £53 million, via a forward funding agreement, for the development of 122 shared ownership homes, on the Clapham Park Regeneration Estate in South London.
It represents the first transaction since Thriving Investments and Gresham House partnered to establish a new affordable housing fund management platform in November 2024. The investment has been made on behalf of the partnership’s shared ownership strategy, Gresham House Thriving Investments Residential Secure Income LP ("The Fund" or "ReSI LP").
The 122 homes, which represent the Fund's largest London scheme to date, are scheduled for completion in winter 2026/2027 and will be delivered as shared ownership affordable housing, supported by a grant from the Greater London Authority (GLA). A joint venture between Countryside Partnerships (part of the Vistry Group) and Metropolitan Thames Valley Housing Group (MTVH), [they] will act as the developer.
The homes will meet the highest social and environmental standards. Residents will also benefit from heating costs that are capped at least 10% below those of a fair residential comparator.
The development is part of the broader regeneration project at Clapham Park led by MTVH and Countryside Partnerships. Since 2005, the project has seen the delivery of 1,500 homes, with an approved masterplan in place for over 2,500 homes. Currently the 50/50 joint venture between Countryside Partnerships and MTVH has over 840 homes under construction.
To date, ReSI LP has successfully deployed nearly £200 million, amassing a portfolio of 1,679 affordable homes across England, of which over 1,100 are operational.
Ben Fry, Fund Manager Gresham House Thriving Investments Residential Secure Income LP, said: "This first transaction under Gresham House and Thriving Investments' new partnership marks one of ReSI LP's most significant investments to date. London is experiencing a severe shortage of affordable housing, and this investment aligns with both the UK government's appeal for institutional collaboration in housing growth, aiming to accelerate the delivery of affordable, high-quality, and energy-efficient homes, as well as the Fund’s social impact commitment.
"Alongside the GLA’s grant support, which is critical in enabling us to achieve shared ownership status for the new residential units, the investment also continues our longstanding relationships with both Vistry and MTVH. Clapham Park represents a landmark development in our journey toward building a £1 billion+ shared ownership portfolio over the next five years."
Heather Fleming, Managing Director, Institutional Business at Gresham House, commented: “We are thrilled to announce the completion of our first deal under the new partnership between Gresham House and Thriving Investments. This collaboration harnesses our combined expertise and resources to deliver superior outcomes for our clients. It reflects the increasing demand from investors for shared ownership investments, driven by the need for stable income and long-term capital growth opportunities in the UK housing market.
The shared ownership sector will play a crucial role in ensuring a sustainable supply of affordable housing. With £120 million of capital ready for deployment and active fundraising efforts underway, ReSI LP is committed to significantly expanding investment in this vital tenure.
"Customer service and environmental considerations should be priorities for investors in affordable housing, and ReSI LP remains dedicated to upholding its Shared Ownership Customer and Environmental Charters. We are focused on building a stronger shared ownership sector by advancing the implementation of these charters, which aim to ensure homeowners are treated fairly while fostering positive environmental outcomes.”
Matt Painter, Development Director at Thriving Investments, said: “It is a pleasure to see ReSI LP get off to such a strong start with our investment in the Clapham Park Regeneration Estate. This project reflects our commitment to advancing additionality residential developments through forward funding. With our first transaction now complete, we are focused on the future and are eager to collaborate with developers who share our vision for delivering affordable, shared-ownership housing. We have the capital and the drive to pursue further partnerships that align with our mission of creating impactful residential communities.”