German investment firm PATRIZIA has pledged £1bn to its new UK Essential Living Platform, which is intended to deliver up to 4,000 affordable, professionally managed homes across the UK's regions and nations. Prime Minister Andy Burnham welcomed the investment today, 8 October 2026, during a visit to Berlin.
PATRIZIA, one of Europe’s largest real estate investors, plans to work directly with mayors and local partners. Asoka Wöhrmann, CEO of PATRIZIA, stated that the UK's demand for affordable housing represents a significant investment opportunity, and that working with local partners can help channel long-term institutional capital where housing is most needed.
The investment was announced at the first UK-Germany Regional Growth Forum in Berlin, where Prime Minister Burnham and German Chancellor Merz met with business leaders. The leaders committed to an ongoing Regional Dialogue to discuss further opportunities for growth in both countries.