South London property consultancy Henshall & Partners has overseen the acquisition of affordable homes at Lynton Residence.

The 6 new homes were purchased for £1,450,000 by local Southwark housing provider Wandle.

The deal will allow Wandle to release much-needed affordable homes in Q1 2023, with the provider looking to source significant completed stock to meet growing demand.

Henshall & Partners first sold the site to Featherstone Homes. Comprising 19 apartments in total, the scheme included six allocated affordable homes, with a range of 1, 2 & 3-bed units available. The Henshall & Partners team then sourced a suitable affordable partner in Wandle Housing to acquire the six affordable units and add them to their managed portfolio.

Chris Henshall, Managing Director of Henshall & Partners, said: “This affordable acquisition in Southwark is part of a real trend developing, with housing providers looking to acquire turnkey homes to enable them to service demand faster. We have also made introductions to developers to establish partnerships that will allow them to secure providers pre-construction, providing more confidence in delivering consented sites. It is vital that the affordable homes targets set by the government are met and we’re proud to be using our contacts and experience to help providers meet the increasing demand.” 

The agreement follows a recent government commitment to support the development of around 120,000 affordable houses, backed by an expenditure of £8.6 billion in public funds. A major insurance company, Legal & General, has also unveiled a $150 million social loan programme to pay for the construction of 5,500 affordable homes throughout England.

The transaction follows a recent boom in the sector, with over £1 billion in transactions of this type in the previous year. While this trend is growing throughout the UK, the current hotspots include London and Bristol.

Henshall & Partners is currently marketing a range of residential, commercial, investment and development opportunities in London. For more information and contact details please see Henshall & Partners profile.