Patrizia & Fabrix launch €115m + JV for London housing

Real estate investment manager Patrizia and London-based developer Fabrix have launched a new joint venture called Sustainable Communities London (SC London). 

Walworth Road Manor Place

This partnership is backed by over £100 mln (€115 mln) in investment capital, with an initial £45 mln (€52 mln) from Patrizia's clients, and aims to address London's severe housing shortage.
The core strategy involves repurposing underused urban land and buildings to create sustainable, affordable, and alternative housing solutions.
Their first project, already underway in Elephant & Castle, will transform a disused 1980s office building into a mixed-use development. 
This scheme will provide 283 PBSA, which could potentially free up to 113 family homes currently used by students, 23 on-site affordable homes at social rent (making up 35% of the total residential provision), as well as significant community infrastructure, including retail space, a community garden, and a community kitchen.
SC London's broader goal is to scale this platform, developing a portfolio of residential assets that deliver strong social outcomes and long-term value. This initiative is a key part of Patrizia's wider "Sustainable Communities" strategy, which focuses on impact-driven real estate investment to tackle housing shortages and social inequality, with successful projects already in other parts of the UK and Europe.
Marleen Bekkers, fund manager of Patrizia Sustainable Communities, commented: “This latest expansion of our Sustainable Communities platform demonstrates how impact-driven investment can address London’s acute housing challenges while delivering long-term value. By partnering with Fabrix to repurpose underutilised land and assets like this one in Elephant & Castle, we can deliver high-quality homes while setting new standards for environmental and social impact in the capital.”
Clive Nichol, CEO and founder of Fabrix, added: “Our collaboration with Patrizia allows us to scale our vision of reimagining urban areas to positively impact and serve society. Our development at 182-202 Walworth Road is a blueprint for how innovative, community-focused development of alternative housing sectors such as PBSA and Co-Living can help address London’s housing crisis while delivering significant social and environmental sustainability outcomes. Through Sustainable Communities, we look forward to unlocking the delivery of more much-needed affordable homes for London.”
Elephant & Castle has recently undergone significant transformation, evolving into one of London's most vibrant districts through major infrastructure upgrades, new public areas, and a revitalized town centre.
The 182-202 Walworth Road project will contribute to this ongoing development by delivering much-needed affordable housing, integrating sustainable urban design, and fostering community engagement. A standout feature is the pioneering new Community Kitchen, co-designed with local groups, which aims to combat social isolation and connect Walworth's communities through the shared activity of preparing, cooking, and enjoying healthy food.
Once finished, the affordable housing units will be sold to and managed by a Registered Provider, supplying the London Borough of Southwark with essential, high-quality social rent homes.