National Housing Bank commits up to £70 million to Fiera and Packaged Living family rental housing fund
The National Housing Bank, a Homes England company, has committed up to £70 million to FRESH, a new open-ended fund that aims to build a portfolio worth over £1 billion of professionally managed family rental homes. The fund, run by Fiera Real Estate and Packaged Living, now has £200 million of investment capacity, including a further £19 million from the Bank that will become available as the fund grows. Its investments will go toward building new homes through agreements with developers, with the aim of speeding up supply in areas where housing is short.
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What does it mean?
A government-backed bank is putting up to £70 million into a fund that pays for new homes to be built for families to rent. The money is meant to get building going faster and bring in private investors too.
Who is affected?
Families looking to rent newly built homes, and private investors in the FRESH fund.