Moat completes 361 home transfer to Orbit
Moat has transferred 361 homes to Orbit as part of a 1,600-home stock rationalisation programme.
The 20,000-home association has completed the sale of 361 homes, including 341 social rented properties and 20 leasehold properties, to Orbit for an undisclosed fee.
The sale is part of a long term drive by Moat to dispose of stock in outlying areas to save money on management costs. The organisation has transferred 709 homes to other providers in total since 2009 and plans to swap another 900 properties.
Moat believes it can reduce costs by disposing of stock in Surrey, Hertfordshire and west London and concentrating on its core geographical areas of Essex, Kent, Sussex and London.
It also believes the move will be enable it to improve services to tenants.
Brian Johnson, chief executive at Moat, said: ‘We wanted to find the right provider to take over management of these homes which do not lie in one of our key local authority areas.’
Meanwhile, Southern Housing Group has announced the disposal of 112 homes to West Kent Housing Association and Town & Country Housing Group, raising a total of £6.5 million.
The sale is part of a wider stock rationalisation programme.
Stephen Ross, director of reinvestment at SHG, said: ‘The strategy will, over time reap benefits for our residents in terms of long term investment in their homes and the development of new housing’.