Patrizia commits €1.2bn  for essential housing across UK growth cities

Patrizia plans to raise and deploy £1 billion (€1.2bn) for essential housing across the UK, expanding its existing residential investment activity and working directly with metro mayors, combined authorities and local partners to identify opportunities aligned with local housing priorities. 

Asoka Wohrmann, CEO, Patrizia

The initiative follows a meeting between Patrizia CEO Asoka Wöhrmann and Prime Minister Andy Burnham at the British Embassy in Berlin.

The proposed scale of investment could support the delivery of around 4,000 homes for 10,000 people, with Patrizia aiming to connect housing opportunities identified by mayoral authorities with long‑term institutional capital, potentially including UK pension funds. Any pension investment would be subject to independent assessment and decision‑making by Local Government Pension Scheme funds and their investment pools.

Wöhrmann said the UK’s housing challenge represents 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 activity. In London, the firm has more than £100 million (€118mln) of investment capacity focused on alternative living and affordable housing through a joint venture with a local developer. Its first project, Walworth Corners in Elephant and Castle, has secured construction finance and appointed a contractor, and will deliver new homes, student accommodation, community facilities and public space on a brownfield site. Patrizia has also invested in housing projects in Cardiff, Birmingham, Reading and Southampton.

The firm brings experience from affordable housing programmes across Europe. Through its impact strategy, 929 homes have been delivered to housing associations in Ireland, while in Spain the first affordable rental homes have been completed within a programme planned to deliver 960 units. As of Q2 2026, €324 million of equity had been committed to 18 affordable housing projects across Spain, Ireland, the UK and Belgium, forming part of Patrizia’s €17.5 billion European living platform.

The initiative has drawn support from several UK regional leaders. London Mayor Sadiq Khan said Patrizia’s plans reflect continued confidence in the capital, noting the firm’s investment in Elephant and Castle is already delivering much‑needed homes. Steve Rotheram, Mayor of the Liverpool City Region, said the partnership approach could help unlock sites and accelerate development. Richard Parker, Mayor of the West Midlands, highlighted the importance of trusted private‑sector partnerships in tackling the housing crisis, while Tracy Brabin, Mayor of West Yorkshire, welcomed the commitment as part of efforts to revitalise towns and cities across the region.

PATRIZIA will now work with prospective public and private sector partners to refine the UK investment plan. Individual locations, investment commitments and delivery timetables will be announced as projects progress.