Following the flagship Stratford Halo development in the heart of the Olympic village, the desire to fuel even more ground-breaking developments required a funder with the experience and leadership to create a flagship sale and operating lease solution to match.
Stratford Halo comprises a total of 404 homes, in a prestigious 43-storey tower. With unparalleled views of the Olympic Stadium, the development is making a major contribution to the large-scale regeneration of Newham, East London and the Thames Gateway.
The sale and operating lease solution for Stratford Halo by M&G allows Genesis to manage the whole development and maintain it to consistently high standards, which would have been hard to achieve with a multi-stakeholder model.
The deal provides a springboard for future developments by Genesis and the basis for a strong long-term partnership with M&G.
Elizabeth Froude, Executive Director of Resources at Genesis, said, “We like M&G’s style. They take the same long-term view as us and combine it with realism and pragmatism. We always feel that we have ‘grown up’ conversations with the Social Housing team at M&G, which we find refreshing and constructive.”
Mark Davie, Head of Social Housing at M&G, said, “Our longevity in the social housing sector has enabled us to create many innovative funding structures. Stratford Halo is a perfect example of what can be achieved when funders and housing associations work closely together under a shared long-term vision.”