ReSI buys Crest Nicholson London new home stock for shared home debut

By Richard Hook2018-10-25T10:41:00

Residential Secure Income (ReSI) has acquired a portfolio of 34 new build homes in Barnet, north London, from Crest Nicholson for £16.5m and announced plans to convert them into shared ownership homes.

ReSI, which became the first publicly listed investment fund to become a registered provider with the Regulator of Social Housing earlier this year, said it will use government grant funding for the conversion and has plans to make further acquisitions from developers and housebuilders after closing its first acquisition in the sector.

Since raising £180m to float on the stock exchange in July last year, ReSI has invested £215m in assembling a portfolio that comprises close to 2,500 residential units across various asset classes.

This content is only available to registered users

You must be logged in to continue

Would you like to read more?

Try Property Week For Free to finish this article.

Unlimited access to Property Week
Breaking news, comment and analysis from industry experts as it happens
Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue