Strengthening our partnership with M&G to boost affordable home supply

We’ll use the resources from the sale to build more affordable homes and improve services.

Finished last year, the homes at Wildbridge are a mix of two to four-bedroom shared ownership and social rent houses and flats. All the homes are EPC A-rated and benefit from air source heat pumps and integrated solar panels providing renewable energy, helping customers to reduce household running costs.

Wildbridge won the Best Large Social Housing Development award at the 2025 National Local Authority Building Control Building Excellence Awards.

M&G has acquired the homes through a £29 million investment by the M&G Affordable Living Fund. This is the Fund’s first move into social rent homes, broadening its ability to support a wider range of households, while increasing the supply of affordable homes. Hyde is an investor in the Fund, which was set up to bring in new sources of funding to boost affordable housing delivery.

While the ownership of the homes has changed, customers will continue to receive the same high level of service. That’s because the homes will continue to be managed by the Pinnacle Group, part of Hyde. Customers will also retain their rights and protections through their leases or tenancy agreements.

Every penny of the surplus from the sale will be reinvested in affordable homes and the services we provide.

Andy Hulme, Group Chief Executive of the Hyde Group, said:

"We’re delighted to continue our partnership with M&G through this latest transaction, which demonstrates the valuable role long-term institutional investment can and must play in helping tackle the housing crisis and supporting the ongoing delivery of affordable homes. This demonstrates the end-to-end offer we provide partners and customers."

Chris Jeffs, Manager of the M&G Affordable Living Fund, said:

“This investment reflects the role long term capital can play in expanding access to the highest quality, energy efficient affordable homes. By working in partnership with an experienced provider such as Hyde, we can support the delivery of much needed housing, while helping to create stable, long-term value for our clients.”

M&G's Affordable Living Fund forms part of a platform of around 4,800 homes across the UK, around half of which are affordable. The Fund brings together capital from Homes England, Local Government Pension Scheme clients and M&G's £132bn With Profits Fund, representing the savings of millions of UK customers.

At Hyde, we’ve taken an innovative approach to funding over the past few years, forming a number of partnerships with institutional investors, offering a vertically-integrated offer, spanning housing investment, development, landlord services, community services and property management. This gives us direct access to responsible, long-term capital to upgrade homes, and build new ones.

Institutional capital has a growing appetite for housing and we want to work with more partners to deliver thousands of affordable homes over the next five years.