You are viewing 1 of your 1 free articles
Housing associations complete 731-home stock transfer
Two housing associations have completed the transfer of 731 homes in the South of England.
Southern Housing Group, which owns around 28,000 homes, has sold the stock to 32,500-home Stonewater.
The homes are spread across Wiltshire, Oxfordshire and Berkshire.
It marks the second large stock transfer in the sector since the onset of the coronavirus crisis in the UK, after Sanctuary purchased 813 homes in East Anglia from Notting Hill Genesis early last month.
Stonewater and Southern said the deal was completed without any delays or service interruptions for residents despite the pandemic.
The process was carried out in two phases, with 474 homes transferred in March and the remaining 257 moved over today.
READ MORE
Former Southern tenants that are now with Stonewater have been given a digital induction to their new landlord.
The stock involved in the deal includes 553 general needs homes, 143 retirement living, 11 shared ownership, eight supported housing and 16 private leaseholds.
London-based Southern said it sold off the stock as part of its three-year corporate plan.
All the homes are on the western fringes of its operational area, where Stonewater manages more than 3,000 homes.
Last month, Southern acquired 700-home Surrey-based housing association Crown Simmons as a subsidiary.
In February the group agreed a deal with Hyde to buy 379 of its residential properties across Hampshire, Surrey and West Sussex.
Alan Townshend, chief executive of Southern, said: “We believe Stonewater would be better placed to own and manage our homes in Wiltshire, Oxfordshire and Berkshire due to their strong local presence.
“They have a well-established commitment to resident involvement and we are confident in their ability to provide our former residents with excellent customer services.
“The group’s staff have worked very hard to ensure the transfer was completed smoothly and efficiently as possible.”
Nicholas Harris, chief executive of Stonewater, said: “We completed the first phase of the transfer in March, with 474 properties. And given the current situation, we’re incredibly pleased to have been able to complete the final stage of the transfer and welcome another 257 Stonewater households.
“The purchase of these homes aligns with our strategic plan for growth in areas that we have already established strong partnerships with the local authority and customers, so we can build even stronger communities in those areas.”
Sign up for our asset management newsletter
Already have an account? Click here to manage your newsletters
