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Social landlord snaps up properties in £1m deal

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Social landlord snaps up properties in £1m deal

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Published by Max Salsbury for 24dash.com in Housing and also in Communities, Finance

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Heart of Medway Housing Association has bought 24 tenanted properties for £1.25m.

The homes in Haig Avenue, Chatham were purchased from Town and Country Housing Association.

Heart of Medway is the registered provider subsidiary of mhs homes, and was set up to support growth by building new homes and taking on properties from other providers.

The purchase was helped with a £800k grant from the Homes and Communities Agency.

Tunbridge Wells-based Town and Country - which manages around 9,000 homes in Kent, Sussex, Surrey and South London - wanted to transfer the homes to a more local landlord.

The properties, four low level blocks of flats, will be managed by mhs as part of its normal day-to-day operations.

Gary Clark, operations director at mhs, said: “We are delighted to have been successful in buying these homes which are in the centre of an area where we already own more than 500 tenanted properties. We have visited every household to meet the residents, identify any special service requirements they may have and offer any advice they may need. This acquisition is part of our overall strategy to increase the number of homes in the area by 400 over the next three years.”

Mark Jerreat, who has lived in his two-bedroom flat for five years, said: “I am pleased that Heart of Medway has taken over our flats. I had heard quite a lot about mhs because they own lots of homes in Chatham. The chap who came to see us was a nice person who took the time to explain everything to us. For us, it makes sense. mhs is well-established with a good track record. The transfer of our flats to a locally-based landlord who is able to give us a good service will mean value for money and can only be good for us all.”

mhs owns over 8,000 homes in Medway.

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