The private markets arm of investment management firm Man Group has partnered with Taylor Wimpey to forward fund one of the UK housebuilder鈥檚 projects.
Man GPM and London-listed Taylor Wimpey have teamed up to forward fund the development of 96 single-family homes for rent at the latter鈥檚 Stanhope Gardens project in Aldershot, Hampshire.
The development is part of the wider Aldershot urban extension masterplan designed to transform the town鈥檚 former military barracks and provide over 3,850 new homes, new schools and over 100 hectares of green space.
Man GPM鈥檚 investment is being made via its community housing division, which focuses on deploying institutional capital to increase the supply of affordable, sustainable and multi-tenure homes in the UK.
Shamez Alibhai, managing director and head of community housing at Man GPM, said: 鈥淭he UK has long been one of the least affordable housing markets in the world, and this has been exacerbated by the cost-of-living crisis 鈥� we know growing numbers of people are living in unsuitable accommodation.
鈥淭he Stanhope Gardens development is a good example of how we can put institutional capital to work on meaningful projects that deliver positive social outcomes.鈥�
Tom Shaw, investment director at Man GPM, said: 鈥淥ur partnership with Taylor Wimpey on this development proves what鈥檚 possible when like-minded partners work together to unlock solutions to address the UK housing crisis.
鈥淥ur vision is to provide essential and key workers with homes that meets their needs but also enhance their overall quality of life.鈥�
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