This landmark transaction marks the largest acquisition of shared ownership homes since the scheme's inception in 1990 and underscores the strategic success of Regis’ vision.
With the support of Sage Homes, USS has launched Sparrow Shared Ownership to take over the portfolio management and operational responsibilities. Sage Homes will continue to manage the portfolio’s customers until further notice.
Sage’s Approach to Affordable Housing
Sage Homes was established in 2017 with a clear mission: to attract private capital to tackle the UK’s chronic shortage of affordable housing.
Over 1.2 million households were on waiting lists at the time, yet only 30,000 new affordable homes were being delivered annually.
Recognizing this critical gap, Regis, in collaboration with Blackstone, created Sage Homes to channel substantial investment into the sector.
Since its inception, Sage Homes has become the UK’s largest provider of newly built affordable housing, delivering over 16,000 homes to date.
Reflecting on Sage Homes’ Strategic Success
Reflecting on the transaction's success, Alison Thain, Chair of Sage Homes, stated:
"This sale of a portfolio of shared ownership properties is an endorsement of Sage Homes' strategy. Several years ago, we started on a journey to attract increasing amounts of institutional investment and capital into the sector. For the last three years, Sage has been the largest provider of new affordable homes in England, and this investment proves our model, enabling continued growth and delivery of the homes that the country needs."
The sale to USS is not just a financial transaction but a validation of Regis’ model for Sage Homes and the impact private capital can have when aligned with public needs.
By partnering with Blackstone, one of the world’s leading investment firms, Regis brought unprecedented capital into the affordable housing sector. Sage has had the capital to scale rapidly, attract further institutional investment, and become a leader in the field.
The sale of 3,000 homes to USS highlights the demand for high-quality, affordable housing and sets a precedent for future investments in the sector.
Looking Ahead: Regis’ Continued Commitment to our Mission
As Sage Homes continues to grow and deliver on its mission, Regis remains steadfast in its commitment to creating sustainable, impactful investment opportunities.
Sage Homes' success serves as a model for how private capital can be mobilized to address public needs, and Regis is proud to be at the forefront of this movement.
The sale of 3,000 homes to USS marks a significant achievement, but it is just one step in a long-term strategy to help solve the UK’s affordable housing crisis.