Hertfordshire-based landlord acquires 250 homes from Orbit

The acquisition takes B3Living’s portfolio close to 6,000 homes, spread across Hertfordshire and Essex, and represents nearly 5% stock growth for the association.

The landlord said the transfer also supported its net-zero carbon ambitions, with 85% of the transferred homes having an Energy Performance Certificate rating of Band C or higher.

David Biggs, chair of the board at B3Living, said: “It is excellent to take on more residents in the communities where we work.

“I must extend thanks to Orbit Group for facilitating such a smooth transaction for us and the residents affected. 

“This stock transfer is a significant addition to our housing portfolio and a valuable opportunity to grow as a business amidst a climate of economic and operational uncertainty.

“It also enables us to consolidate the strong presence in this area, so we look forward to offering our new residents high-quality local services and personalised support to thrive in their homes.”

Trevor Graham, interim chief property officer at Orbit, said: “We are delighted to complete this transfer with B3Living, as part of our densification strategy to create operational economies of scale across our wider portfolio.

“We have worked closely with B3Living to make the transition as seamless as possible for customers in the area and are confident the team at B3Living will continue to provide them with quality local service.”

In July, Legal & General Affordable Homes acquired 390 shared ownership homes from Orbit Group for nearly £35m.