German investor PATRIZIA has announced it will invest £1billion to deliver up to 4,000 new affordable homes in the UK.
The announcement follows a meeting between PATRIZIA CEO, Asoka Wöhrmann and Prime Minister, Andy Burnham, at the British Embassy in Berlin.
PATRIZIA intends to expand its housing activity across UK growth cities and regions, working with metro mayors, combined authorities and local partners to identify opportunities that respond to local housing priorities.
The strategy will aim to connect housing opportunities identified by mayoral authorities with long-term capital, potentially including UK pension investment. As a result, mayors can shape local housing priorities and deploy funding, while Local Government Pension Scheme funds and their investment pools can consider suitable projects as part of their investment strategies.
Asoka Wöhrmann, CEO of PATRIZIA, said: “Our meeting with the Prime Minister reinforced a clear reality: the UK’s housing challenge is also a significant investment opportunity. PATRIZIA is already investing in homes across the country, and we see considerable potential to do more. By working with metro mayors and local partners, we can help channel long-term institutional capital into the places where housing is needed most. Neither public nor private capital can solve this challenge alone, but together we can accelerate delivery and create lasting value for communities across the UK.”
The plan builds on PATRIZIA’s existing UK investment. In London, PATRIZIA has more than £100million of investment capacity focused on alternative living and affordable housing as part of a joint venture with a local developer. The venture’s first development, Walworth Corners in Elephant and Castle, has secured construction finance and appointed a contractor, and will bring new homes and student accommodation to a brownfield site, alongside community facilities and public space. PATRIZIA has also invested in housing projects in Cardiff, Birmingham, Reading and Southampton.
PATRIZIA is already delivering affordable housing elsewhere in Europe, including Ireland, Spain and Belgium, and as of Q2 2026, has committed €324million of equity to 18 affordable housing projects. This activity forms part of PATRIZIA’s €17.5billion European Living platform.
The Mayor of London, Sadiq Khan, said: “PATRIZIA’s plans to boost its presence in London are a further sign of confidence in our great city. Their investment in Elephant and Castle is already delivering much-needed new homes, and I am delighted that they want to add to increase their presence here in the capital. By working with international investors, the government and regional leaders, we are boosting the delivery of new homes, many of which will be affordable, as I continue to build a better London for everyone.”
Steve Rotheram, Mayor of the Liverpool City Region, said: “Liverpool City Region has huge ambitions when it comes to housing – and no shortage of opportunities to invest. We’ve got the sites, the plans and the appetite to build. What we need are partners prepared to take the long view and help us turn that potential into spades in the ground.”
“That’s why PATRIZIA’s ambition to work directly with mayors and local government is so encouraging. We know our places and what our communities need. Match that with serious, long-term investment and we can unlock sites, accelerate development and build more of the good-quality homes people need.”
“There’s real confidence and momentum in the Liverpool City Region right now – and we intend to capitalise on it. We’re ambitious, we’re investable and we’re ready to build. For investors looking for the next big opportunity, Liverpool City Region should be at the top of their list.”
Richard Parker, Mayor of the West Midlands, said: “Tackling the housing crisis has been a top priority for me since day one because too many people are waiting too long for a safe, warm home. I contracted a record 7,237 new homes over the last year, including 2,452 that are affordable or for social rent, but to truly tackle this issue requires strong, trusted partnerships with private developers. PATRIZIA, through its existing investments in Edgbaston and Birmingham city centre, has shown a real commitment to our region and a welcome ambition to expand that collaborative model across the UK.”
“When regional leaders, national government, and long-term private investors pull in the same direction, we create the certainty needed to unlock significant growth and deliver the secure, affordable homes local people need and deserve.”
Tracy Brabin, Mayor of West Yorkshire, said: “We have bold ambitions to deliver the new homes that people across West Yorkshire need, which is why I welcome this commitment to invest in our region.”
“International investors are increasingly recognising the opportunities created when they work together with local leaders and this government. This will help to support the work underway to revitalise our cities and towns, while making a real difference to people’s lives as we continue to deliver more homes across West Yorkshire.”
PATRIZIA will develop the UK investment plan with prospective public and private sector partners, with individual locations, investments and delivery timetables announced as projects progress.
