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Housing association acquires more than 500 homes from L&Q
Thrive Homes has announced the acquisition of more than 500 homes across eastern England from major housing association L&Q.
Hemel Hempstead-based Thrive Homes, which has 5,000 homes across Hertfordshire, Bedfordshire, Buckinghamshire and Oxfordshire, announced the deal with L&Q earlier this week.
According to the organisations, it follows a period of “stock rationalisation” by L&Q. The 95,000-home landlord is looking into how residents in the region can “continue to receive the best possible housing services” while it focuses on other growth areas.
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After a formal consultation period, Thrive Homes was identified as being best suited because of its growing housing portfolio within areas such as Cherwell, Chiltern, East Hertfordshire, South Northamptonshire, Hitchin and Wycombe.
Thrive said that 400 of the total homes being transferred are affordable, aligning with its focus on providing affordable housing in one of the UK’s most expensive areas.
Elspeth Mackenzie, chief executive of Thrive Homes, said: “We are very proud to announce that we will be bringing an additional 546 homes, and in turn the customers that live in them, into the Thrive family.
“People in the UK are facing tough challenges with the cost of living crisis, and a safe, good-quality home is vitally important. Today’s announcement helps us grow our affordable homes where they are needed the most. We are excited to start meeting our new customers and ensuring they have the best possible experience with Thrive Homes.”
John Lumley, director of strategic sales at L&Q, said: “We are delighted to be partnering with Thrive Homes at this stage in our stock rationalisation programme, as we head into a period of renewed growth and housebuilding.
“As an organisation, we strongly feel that everyone deserves to live in a home they are proud of and we are confident that Thrive Homes will continue to provide the same high-standard services to our former residents in these areas that L&Q has done in the past.”
The deal with Thrive follows a previous acquisition in March this year by Southern Housing Group, which took over 803 homes in Surrey and West Sussex. In December last year, L&Q also sold 1,500 homes in Lewisham to Phoenix Community Housing.
