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Kent-based provider completes 180-home stock transfer with provider owned by Octopus Real Estate
Maidstone-based Golding Homes has completed the transfer of 180 affordable homes to a registered provider owned by an Octopus Real Estate-managed fund.
NewArch Homes has taken on the houses and flats in Bexley, Dartford, Sevenoaks and Wealden, 111 of which are affordable rent, 68 are shared ownership and one is leasehold.
Housing management services will be delivered by Southern Housing.
Octopus said it was “the first major deployment by the Octopus Affordable Housing Strategy”, which funds new houses and acquires existing stock.
Octopus described its strategy as “evergreen” and will target multiple closes, the first of which was in December.
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A “significant element” of this has now been fully invested, Octopus said.
Peter Merchant, investment director at Octopus Real Estate, said that the team’s aim was “to work with housing providers and local authorities to accelerate the delivery of affordable homes”.
“We’re pleased this transfer will allow Golding Homes to reinvest funds to further increase the supply of affordable housing in the local community,” Mr Merchant said.
“The sale and transfer of these homes located outside of our core operational area has been a strategic objective,” said Tom Casey, director of development and strategic asset management at Golding Homes.
Octopus announced in May 2022 that it had acquired a registered provider to operate a scalable ‘direct let’ rather than lease-based model, with housing association partners managing the properties on its behalf.
It acquired its first homes through its new affordable housing fund, after raising an extra £10m from social impact investor Big Society Capital.
Octopus’ investment team has more than £1.84bn of investments that it either manages or advises on, focusing on care homes, retirement communities and affordable housing.
“This transfer enables us to strengthen our commitment to customers in and around the borough of Maidstone where we’re based,” he added.
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