Ground breaking partnerships
We design homes for city makers
We firmly believe in creating the right partnerships. We look for partners who share our ambition to push boundaries and do things differently.
We are proud to have support from both the public and private sectors, helping us to deliver homes for London's city makers.
“ I invested in Pocket Living to help them build genuinely affordable homes that are sold to local people first.”
Mayor of London
In 2017, the Mayor of London increased his investment in Pocket Living to £51.4m. This came from the Mayor’s Innovation Fund to boost new affordable homes for first time buyers in the capital.
This will see Pocket Living start over 2,500 new homes by 2027, using modern methods of construction where possible.
The Mayor’s funding will help finance site purchases and will be paid back in full by the end of the next decade.
The Mayor is supporting innovative schemes like this as he believes off-site construction is a key tool to tackle London’s housing crisis and gettng homes built more quickly.
In 2017, Pocket Living struck a new partnership with Homes England to further help in the company’s efforts to deliver affordable homes for Londoners. The partnership came about as part of a landmark deal involving both the GLA and Lloyds Bank.
The relationship with Homes England expands the collaboration between the public and private sectors to deliver much needed homes in London and has successfully delivered seven schemes. Pocket Living is working with Homes England to deliver a further 197 homes in Waltham Forest.
Homes England Chief Executive Nick Walkley said: “This deal is an important contribution to much-needed affordable housing in London. By lending £33.5 million from the Government's Home Building Fund, Homes England is helping to unlock the construction of new homes, giving first-time buyers in London a real chance to get their foot on the housing ladder.”
Transport for London
In 2018, Pocket Living agreed a new partnership with Transport for London to deliver 100% affordable housing on TfL land.
The Mayor's Transport Strategy includes plans to create opportunities for new homes. London needs 65,000 new homes every year to meet demand, and TfL's commitment to delivering social rented and other genuinely affordable housing on sites it is releasing for residential development is one part of the Mayor of London's work to tackle London's housing crisis.
Graeme Craig, Director of Commercial Development at Transport for London, said: 'Pocket Living is building a great reputation for high quality, genuinely affordable housing for first-time buyers, and will help us develop sites that would not otherwise come forward.
'This partnership marks another important step in us assembling the most important development pipeline in London - building thousands of social rented and other genuinely affordable homes across the capital and generating hundreds of millions of pounds to reinvest in the transport network.'
Related Companies has a long history in affordable housing and believes passionately in the transformation of urban life through the built environment and cultural experiences.
The strategic investment in Pocket Living reflects the belief that urban life can be enhanced through innovation, and Pocket Living will draw upon Related’s access to capital, scale and expertise to deliver more affordable homes to London.
Pocket Living works with several housing associations on partnership opportunities, including Optivo in a joint venture to deliver 100% affordable housing at Addiscombe Grove in Croydon.
Our largest and original funder, Lloyds supported us to grow and deliver 17 schemes and 1,000 affordable homes. We are now working with Lloyds to deliver a further 197 homes in Waltham Forest.
HGP is our first equity partner, delivering 90 homes in Waltham Forest. A joint venture between Homes England and Lloyds, it is a blueprint for future partnership working, including outside of London.
Barclays is a new funding partner, providing senior debt to our joint venture with HGP.