Nigel McNelly
Opus Corporate Finance
Pocket Living
Deal Type
Company sale
Sector
Construction
Completion Date
16th February 2016
Deal Value
£100m
Company Background
Pocket Living is a new kind of property developer, delivering intermediate affordable housing for London's singles and couples. Pocket Living builds homes for the people who contribute economically, socially and culturally to London but who earn too much for social housing and don't earn enough to buy into the private market.
They are known for compact 38m2 one bedroom Pocket homes. They are well-designed inside and out, to maximise use of space and encourage sustainable communities. They are purchased outright by owners with at least a 20% discount to the open market and have a restrictive covenant, which controls their future affordability.
Deal Summary
Advised Pocket Living (a private developer of apartments) on its sale of a 50% stake to Related Companies (a US-based real estate business)
Pocket Living deal contacts
Key members of the Opus Corporate Finance deal team crucial in the Pocket Living transaction
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