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Lincolnshire-based housing association Ongo has acquired 849 homes from The Guinness Partnership.
Ongo said the move supports its aim of increasing its stock through development and acquisition. Guinness said the transfer forms part of its strategy to “consolidate our footprint in certain areas”.
The transfer involves the largest number of homes Scunthorpe-based Ongo has ever acquired and comes after it lined up an extra £25m in funding through an aggregator to help with its development plans.
The homes are based in Lincolnshire and Derbyshire, within or neighbouring areas in which Ongo currently operates.
There is a mixture of one to five-bedroom houses, flats and bungalows. The majority are general needs housing with some leasehold, shared ownership and homes for older people.
Four staff members from Guinness will join Ongo as part of the deal.
Steve Hepworth, chief executive of Ongo, said: “Once we knew that Guinness were selling these homes, we felt it was an exciting opportunity for us and aligned well with our future aims as a business.
“As one of the largest landlords in the region we already have the people and resources needed in the area and can also offer the additional services that we provide such as training, skills development and support services.
“This is truly exciting for Ongo and I’m very proud of all of the work colleagues have put in to make it happen and to our tenants, new and old, for embracing the decision.
“It’s the largest amount of homes we’ve ever acquired and it demonstrates our commitment to not only growth, but making sure we’re a strong and stable organisation that our tenants can rely on.”
Catriona Simons, chief executive of The Guinness Partnership, said: “This transfer forms part of our strategy to consolidate our footprint in certain areas.
“One of our key objectives in doing this is to ensure high-quality services are being delivered to residents in an efficient and cost-effective way by a landlord who has significant presence and influence in the local area.
“We chose to work with Ongo as they have a good reputation for customer service and investing in their homes. Thank you to Ongo and to Guinness colleagues for making this transfer possible.”
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