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Large housing associations agree 380-home swap deal
Southern Housing Group has agreed a deal with Hyde to buy 379 of its residential properties across Hampshire, Surrey and West Sussex.
The 30,000-home association formally took over the properties on the 10 February after a two-month consultation period with residents. The deal also includes one community hall being handed over to Southern.
Alan Townshend, Southern chief executive, said that the stock acquisition was part of the group’s three-year corporate plan.
It is the latest bundle of homes to be offloaded by Hyde in the last two years, with the association selling 193 properties to Sovereign in January last year. The homes were in Basingstoke and Deane, New Forest, the Isle of Wight and Salisbury.
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In 2018,the organisation sold 524 homes to Southern across eight local authorities in Kent, Surrey and Essex, in a deal worth £45m.
Stock rationalisation – the sale of homes within the sector – has grown in recent years as associations seek to cut costs and reduce their areas of operation.
Speaking about the transfer, Mr Townshend said: “I am delighted to welcome our new residents in Hampshire, Surrey and West Sussex. We look forward to providing them with our excellent customer services. The group’s staff has worked very hard to complete the transfer quickly and smoothly."
