Spire wraps up £46 million stock transfer
Spire Homes has successfully completed the transfer of Rutland Council’s housing stock after securing £46 million of funding from Lloyds Banking Group.
The housing association - part of the Longhurst Group - boosted its stock by 1,342 homes, taking the total number of its homes to 3,574.
The transfer follows a major consultation process and a four-week ballot in the summer which saw 87 per cent of tenants vote in favour of the transfer. Ownership transferred last week, with the housing association pledging to spend £21 million over the next five years on homes and services.
Tony Oakley, director of the social housing team at Lloyds Banking Group, commented: ‘There were questions as to whether anyone would be raising finance for these types of deals and the strength of our relationship with Spire was key to the deal eventually going through. We have provided funding for the purchase, refurbishment and some additional funds for other development projects in the Rutland area.’
Have your say
You must sign in to make a comment