Plans confirmed at first UK-Germany Regional Growth Forum
Patrizia, a German real estate investor, has confirmed a £1bn investment to support the delivery of thousands of affordable homes across the UK.
The funds will be added to the firm’s new ‘UK Essential Living Platform’, which aims to build 4,000 new affordable homes by working directly with mayors and local partners.
Andy Burnham and Patrizia confirmed the plans yesterday (Thursday) at the first UK-Germany Regional Growth Forum in Berlin.
Asoka Wöhrmann, chief executive of Patrizia, said: “Our meeting with the prime minister reinforced a clear reality: the UK’s demand for affordable housing is also a significant investment opportunity. Patrizia is already investing in homes across the country, and we see considerable potential to do more.
“By working with metro mayors and local partners, we can help channel long-term institutional capital into the places where housing is needed most.
“Neither public nor private capital can solve this challenge alone, but together we can accelerate delivery and create lasting value for communities across the UK.”
Patrizia has already invested around £4bn in the UK.
UK and German leaders have agreed to develop a “deeper regional dialogue” involving working with local areas on investment and development plans in 2027.
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