PGIM Real Estate has strengthened its UK housing portfolio by acquiring three single-family housing developments across the South of England. The acquisitions align with the firm’s ongoing UK affordable housing strategy, which aims to deliver energy-efficient homes at affordable price points.
In Littlehampton, West Sussex, PGIM has committed to acquiring 73 newly-built, energy-efficient homes located near the town center and in close proximity to schools. These homes will feature sustainable amenities, including air source heat pumps, electric vehicle charging points, and broadband internet, all included within the rental price.
Additionally, the firm has secured two further acquisitions in Exeter, Devon, and St Austell, Cornwall. These properties, located in established, edge-of-town areas, will offer professionally managed, energy-efficient homes equipped with solar photovoltaic (PV) panels and electric vehicle charging points, reinforcing PGIM’s focus on sustainability.
Oscar Kingsbury, portfolio manager of PGIM’s UK affordable housing strategy, noted that these acquisitions further diversify the portfolio and position the firm to capitalize on the growing demand for residential properties in the UK. “At a time when UK residential total returns are projected to grow through 2025, these acquisitions provide long-term, resilient returns for investors,” he said.
Kingsbury also emphasized the importance of affordability in the current market. “As UK residential remains a top choice for investors in 2025, we believe the focus should not only be on returns but also on the affordability of residential rents and the sustainability of future rental growth.”
With its commitment to providing much-needed, energy-efficient homes at accessible price points, PGIM Real Estate’s strategy is well-positioned for continued success, particularly as demand for sustainable housing solutions rises across the UK.
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