Vengrove, on behalf of VRE Social Housing Partners (VRESHP), has completed the off-market purchase of seven freehold residential properties in North London.
The acquisition adds a further 62 units to the VRESHP portfolio and will provide affordable housing to individuals and families. Vengrove will continue to manage the properties and work closely with selected charities and registered housing providers to ensure they are used by those in need of affordable housing.
Vengrove’s social and affordable housing portfolio is spread across the country with 750 units currently under management and a further 200 units under offer. Vengrove now has direct relationships with 10 registered providers and charities offering accommodation in the affordable, general needs, specialist supported and transitionary supported sectors.
Tim Lucas, Head of Asset Management at Vengrove, commented “As the cost-of-living crisis deepens the need for high quality, affordable accommodation becomes greater and greater. Our Partners in this space have reported a significant increase in demand for affordable housing and Vengrove remain committed to providing quality accommodation at sustainable rents.”