Man GPM and Grand Union Housing Group agree 10-year lease agreement at Campbell Wharf
5 December 2022
Man Global Private Markets (‘Man GPM’), Man Group’s private markets business, today announces a transaction with Grand Union Housing Group (‘GUHG’) for a 10-year lease agreement at Campbell Wharf, Milton Keynes.
As a result of the deal, GUHG will manage 79 residential units, which were acquired from Crest Nicholson in November 2021 by Man GPM as part of its focus on community housing. This new development is in a sought-after, canal-side location, surrounded by green spaces, a 111-berth marina, shops and cafes. The properties consist of a mixture of 1, 2 and 3-bed flats, all with their own parking. Every property will be offered specifically to key workers at a discounted rent at 80% of the prevailing market rate.
Under the terms of the agreement GUHG will assume full responsibility for the day-to-day management of the homes, which will ensure that tenants have one reliable point of contact.
Shamez Alibhai, Managing Director and Head of Community Housing at Man GPM, said:
“This partnership with Grand Union Housing Group is an important step forward in our delivery of community housing at Campbell Wharf. In the current economic environment, the need for high-quality, affordable rental properties has never been greater. We are proud to be bringing forward an exceptional scheme that will make a fantastic contribution to the local community.”
Dave Lakin, Director of New Business & Development at Grand Union at Grand Union Housing Group, added:
“We’re really pleased to be able play our part in providing affordable, high-quality housing in Milton Keynes.
“We have almost 30 years’ experience in providing affordable homes at Grand Union, and we’ll be using that knowledge to work alongside Man GPM to help them build a genuinely sustainable community in the area.”
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