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The Residential Land Partnership already 60% invested in first 6 months…

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Residential Land Partnership (‘RLP’), managed by Schroder Real Estate in association with Palmer Capital, has successfully deployed more than half of its equity since launch in late 2017.  The latest two acquisitions are a five acre site in Newport Pagnell and a twenty acre site in Crawley, both sourced by Palmer Capital backed property company Danescroft Land.  The deals completed in early June.

The Newport Pagnell site, purchased from Motorway Services Limited (t/a Welcome Break), forms part of the Northern Expansion Area, allocated for mixed use development in the current Milton Keynes Local Plan. The second asset was acquired off market from a private owner and forms part of Forge Wood, which will be a new neighbourhood in Crawley New Town. The business plan for both projects is to seek residential planning consent to deliver much needed housing in these areas, before selling to selected housebuilders.

RLP provides investors with a unique opportunity to address the undersupply of new housing across the UK while generating strong returns through the acquisition and transformation of sites for residential development.  To date, the four investments have been secured for a total of £24.3 million.

Further equity closings in RLP are expected in the near future.   The fund will be capped at £125 million.

Graeme Rutter, Head of Schroder Real Estate Capital Partners, said:

“We continue to demonstrate the ability to access attractive opportunities which meet our clients’ target returns from the Residential Land Partnership. With further interest from new investors, we hope to help alleviate the UK’s acute housing shortage through our unique strategy.”

Chris Button, Head of Value Add REIM of Palmer Capital, said:

“We are delighted to have completed these acquisitions which complement the existing portfolio. These are in line with our strategy to facilitate much needed residential development by buying sites unconditionally, obtaining planning consent and selling these ‘oven ready’ sites to housebuilders.”