The Norwich portfolio marked the first major acquisition in Kennedy Wilson’s UK Single‑Family Housing strategy completed in October 2024. A 121 unit forward purchase of high quality 2, 3 and 4‑bed homes across two suburban neighborhoods: Woodland Heath and Cringleford Heights delivered from Jun-24 to Sep-25. The scheme provides an attractive entry into a structurally undersupplied rental market. Norwich is one of the fastest‑growing cities in the UK, benefiting from a highly skilled workforce, major research institutions, and strong connectivity. This acquisition formed the seed portfolio for Kennedy Wilson’s SFR platform, unlocking a scalable pipeline of over 1,000 units through direct relationships with tier‑1 housebuilders.
Key Highlights
- Strong value entry and a robust yield profile
- Tier‑1 development partner, Barratt, ensuring high build quality, EPC‑B ratings, and sustainable construction (including 84% timber frame and solar panels).
- Strategic location in a top‑growth regional city with large and expanding employer ecosystem.
- Demographic resilience, supported by growing “generation rent” and strong affordability gap vs homeownership.
- High retention workforce, anchored by the Norwich Research Park, University of East Anglia, and Norfolk & Norwich Hospital.
Location
Norwich is the capital of East Anglia with:
- Population of 144,000 with a 376,000 catchment
- 90‑minute rail link to London; 75 minutes to Cambridge
- Major employers across insurance, life sciences, tech and public sector
- £200m+ infrastructure investment including the Northern Distributor Road and proposed Western Link
- Access to 100 miles of coastline and the Norfolk Broads
- Strong school provision near both sites
