The transfer of 9,000 homes from Merton council to a new housing association has been completed, in what is claimed to be the largest such move in London for a decade.
The stock transfer to Merton Priory Homes, a newly-formed subsidiary of Circle Anglia, went through yesterday. Tenants narrowly approved the move in a vote last June, with 53 per cent of those that voted being in favour.
Merton Priory Homes has promised to invest £129 million in improvements to the homes over the next 10 years, and £383 million over 30 years. It is also setting up a £1 million community fund to invest in projects across the borough.
Around 200 council staff will be transferring to the housing association.
Pauline Ford, managing director of Merton Priory Homes, said: ‘Our priority now is to focus on delivering the promises we have made to residents, and ensure that our residents are at the heart of our organisation every step of the way.’
Linda Scott, Merton council’s cabinet member for housing and community services, said: ‘The transfer is the most significant change to take place in the history of council housing in Merton. It will ensure sustained improvements to the standard of social housing for leaseholders and tenants in the years to come.’
Mark Rogers, chief executive of Circle Anglia, said: ‘Our strong track record as an organisation built on stock transfers means that we have the knowledge and experience to work with Merton Priory Homes, to ensure that we meet our promises and deliver real change to residents in Merton.’