Housing group transfers 112 homes to local landlords

Published by Julien Tremblin for 24dash.com in Housing

Southern Housing Group (SHG) has completed the first batch of its “stock rationalisation programme”, transferring 112 homes in Kent and East Sussex to local landlords.

SHG – which owns and manages 25,000 homes in the South of England - has transferred the homes to two separate Registered Providers: West Kent Housing Association and Town & Country Housing Group, raising approximately £6.5 million.

The transfer, which represents the first of four batches in SHG’s 2011-2014 Stock Rationalisation Programme, was completed on 13 February 2012 following a successful competitive tendering process facilitated by Faithorn Farrell Timms.

Stephen Ross, Reinvestment Director at SHG, said: "The successful conclusion of this first tranche of disposals marks the realisation of our stock rationalisation strategy to gain efficiencies from reducing the number of Local Authority areas in which we operate to target resources in our heartland areas.

“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."

Stuart May, Head of Housing Consultancy at Faithorn Farrell Timms, said the transfer represented “a successful result for all three parties, while also achieving excellent value for money with the residents transferring to more locally-based landlords".

He added: “The internal resources and commitment required to deliver these detailed and sensitive transfers should not be underestimated and SHGL has reacted with an excellent collaborative approach.

“This sale has paved the way for the wider disposal programme and we are looking forward to pushing forward with the next batch.”

The second phase of the programme will see 800 homes from SHG’s stock transferred to several landlords.