Brick By Brick sells Mikhail Riches homes in £29m deal

Under-fire council-owned developer Brick By Brick has sold 85 homes to a for-profit social landlord in a £29m deal, including some designed by Stirling Prize-winners Mikhail Riches.

The homes have been bought by Residential Secure Income (ReSI), a listed investment vehicle set up in 2017 to make money from buying shared ownership properties.

Ben Fry, investment manager of ReSI Capital Management and head of housing at Gresham House, said he saw the deal as “the start of a long-term partnership with Brick By Brick to facilitate its delivery of much-needed affordable homes”.

Gresham House plc (LON:GHE) is a London Stock Exchange quoted specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, in public equity, private assets, forestry, new energy and housing.

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