Pocket Living

Our Approach

  • We build long-term relationships, supporting clients from early stages
  • Our deep knowledge of the affordable housing market underpinned the compelling investment case
  • Engagement with international strategic investor ensured capital for long-term growth

We employed these capabilities when we advised Pocket Living on its initial sale of a 50% stake to Related Companies, a large US developer of affordable housing. The transaction was the first of its kind, where a US real estate firm invested in the UK’s affordable housing market.


The Built Environment
Pocket Living
Related Companies

Public or Private: Private

Client Position: Seller

  • Company Profile
  • Transaction Background
  • What We Did
  • Outcome

Founded in 2005, Pocket Living is a leading developer of affordable homes, designed to be starter homes for ‘city makers’, and is supported by the Greater London Authority.

Opus has built a long-term relationship with the management and shareholders of Pocket, who we have advised previously on securing equity finance from Greater London Enterprise Group and on Pocket’s co-venture funding arrangements with CarVal Investors.

  • Accelerating growth at Pocket provided the opportunity to link up with a larger well capitalised partner to achieve medium term goals consistent with Pocket’s core social objectives
  • Pocket and Related were well known to each other through Related’s joint venture with Argent, a key developer at the King’s Cross renewal project
  • Working with the Pocket team, we helped evolve a participation and progressive ownership structure to allow a transaction to proceed with Related
  • The team developed Pocket’s medium term business plans to provide a robust underpinning to the future performance targets set by the transactions
  • Successful progressive transfer of ownership to Related, a much larger US equivalent
  • The transaction has enabled Pocket to accelerate its development programme and cement its position as a leading independent provider of affordable housing for key workers