Aviva Investors has agreed to forward fund the creation of 101 single-family homes in Cambridge, continuing its development partnership with Packaged Living.

The houses will be delivered by Barratt Homes and will include two, three and four-bedroom homes, as well as two-bed apartments, providing over 105,000 sq. ft. of housing.

The funding is the ninth investment made into the UK single family housing market by Aviva Investors and Packaged Living since launching their build-to-rent platform in 2021. The partnership between the global asset management business of Aviva and Packaged Living has now funded the creation of over 1,200 new homes across the country.

It also represents the third investment by Aviva Investors’ real estate active long-term asset fund following its launch in May 2023, with this fund now having supported the creation of more than 430 new homes.

“We have a clear strategy to increase our investment into rental housing across the UK, including an ambition to deploy more than £1bn in the coming years,” said head of real estate investment at Aviva Investors, James Stevens.

“We think it is a fantastic opportunity to support the delivery of housing into a dynamic region of the UK, which is well-positioned for growth and provide long-term returns for investors.”

Chief investment officer at Packaged Living, Jonathon Ivory, added: “Once delivered, this prime Cambridge asset will sit within a wider portfolio of similarly high value single family communities including Hampshire, Buckinghamshire, Essex and Kent, underpinning a portfolio value of more than £500m and chiming with our business model of investing in and operating communities that exhibit elevated levels of job and population growth.”

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