Sterling Gardens, Newbury.

Grant-funded acquisition of 119-homes at Sterling Gardens, Newbury

Sterling Gardens, Newbury Grant-funded acquisition of 119-homes at Sterling Gardens, Newbury

Key Features

Newly completed development – freehold acquired March 2024
27 x social rent, 62 x affordable rent and 30 x shared ownership homes
Mixed-tenure scheme, meeting local authority housing need
Managed by FAHHA with Pinnacle Group providing housing management services
Positive social impact delivered by well-located scheme with excellent specification
Swift allocation of investor capital, supported by Homes England grant
Grant-funded acquisition of 119-homes at Sterling Gardens, Newbury: Quote

The asset, in Newbury, is a 119-home mixed-tenure affordable housing development, managed by FAHHA with support from Pinnacle Group. The recently-completed scheme will immediately deliver homes for residents identified through a local lettings plan, formulated in collaboration with the local authority, West Berkshire. Originally intended for private market sale, grant subsidy was secured from Homes England and the local authority to bring the homes into affordable use, highlighting the transformational role that institutional impact capital can play, stepping into situations of market failure to bring forward additional, sustainable homes for the long-term benefit of residents and local communities.

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