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Clarion sells more than 400 properties to specialist retirement living association
Clarion Housing Group has sold 445 properties to a housing association that specialises in extra care and retirement living.
Housing 21 purchased the portfolio, which includes 11 schemes located in London, East Anglia and the South East.
The developments moving across in the transfer include Windmill Court in Chingford, Redmayne View just north of Norwich, and Duncan Court in Tower Hamlets.
Housing 21 has increasingly turned to acquisitions to expand its portfolio, claiming some planning permissions for new developments were taking up to 24 months.
In February, the 22,000-home retirement and extra-care specialist bought 472 properties from Notting Hill Genesis to increase its presence in London.
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Housing 21 aims to develop up to 400 new homes for older people each year. Last year it completed 289 and this year it is forecasting 300, Inside Housing understands.
In May, the association announced plans to develop almost 200 new homes for people over the age of 55 across three schemes. A new build scheme of 12 flats and 8 bungalows in Doncaster is the next scheme due for completion.
Housing 21 is currently in merger discussions with 4,500-home landlord ExtraCare Charitable Trust.
Tony Tench, deputy chief executive at Housing 21, said: “This strategic move not only expands our portfolio, but also allows us to continue our mission of providing extra care and retirement living for older people of modest means.
“In addition to the acquisition plans, Housing 21 remains committed to investing in existing homes, prioritising the comfort and well-being of all residents.”
Michelle Reynolds, chief customer officer at Clarion Housing Group, said: “Housing 21 is a market leader in housing and care for older people, evidenced by its high customer satisfaction.
“Housing 21 was selected as our preferred bidder through a rigorous process, including three resident representatives on the assessment panel and in consultation with all residents across the 11 schemes.”
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