London Square says deal is developer’s largest affordable housing transaction to date
The Hyde Group has agreed a deal to forward-fund the construction of 337 affordable homes at a London Square development in Woolwich.
London Square said the £100m deal represents its largest affordable housing transaction to date and will provide 190 homes for social rent and 147 for shared ownership.
The Woolwich development will deliver 700 homes in total near the high street, alongside new shops, community space, workspace and public realm. It is currently underway and is due to complete in 2029.
Hyde’s acquisition was supported by grant funding from the Greater London Authority’s affordable homes programme 2021-26.
It follows London Square’s recent agreement with global real estate company Quadreal to deliver 241 build to rent units at Woolwich.
London Square is part of UAE real estate developer Aldar. In 2022, it established Square Roots, an independent registered provider aiming to deliver 10,000 affordable homes over the next decade.
Hyde Group manages around 120,000 homes across primarily in London and the South East.
No comments yet