You are viewing 1 of your 1 free articles
An East Midlands housing association has purchased 470 homes from major London landlord Notting Hill Genesis.
Futures Housing Group bought the homes for an undisclosed fee, increasing its stock size by 5% to around 9,800.
The majority of the units sold are in Northamptonshire, where Futures already manages more than 3,000 homes.
They are around 10 years old and include a mix of general needs, intermediate, shared ownership and supported housing, as well as the estates’ associated offices.
Marcus Keys, group director of business growth and transformation at Futures, said: “The group is really pleased to have exchanged contracts on this deal to add to our growing portfolio.
“It’s a real statement of our ambition to grow and thrive as a major player and voice for social housing in the East Midlands.
“This is a truly exciting time for Futures. We’re acquiring stock, striking up new partnerships, delivering better services and we’re on course to develop more than 1,000 brand new homes by 2020 to help tackle the housing crisis.”
Notting Hill Genesis was formed following a mega-merger between Notting Hill Housing and Genesis Housing Association and now owns around 64,000 homes. It is part of the G15 group of major London housing associations.
Carl Byrne, group director of housing at Notting Hill Genesis, said: “We would like to say a big thank you to all of the residents who took part in the consultation process and wish all of our former tenants a successful future with their new landlord.
“A number of staff will also transfer over as part of this agreement and we are sure they will continue to provide a great service to their residents. We would also like to thank them for all their hard work.”
The deal will see Futures take on 15 staff from Notting Hill Genesis.