Midlands-based housing association transfers over 1,000 homes
Housing 21 has completed its largest acquisition to date with the transfer of 1,567 properties from Midland Heart.
The leading not-for-profit provider of Extra Care and Retirement Living completed the purchase of 23 schemes from Midland Heart, welcoming over 1,600 residents and 137 employees to Housing 21.
As a direct result of the acquisition, Housing 21 has now achieved the milestone of over 10,000 Extra Care properties, which will be a managed alongside its 14,000-strong Retirement Living portfolio.
Tony Tench, Deputy Chief Executive for Housing 21 said: “We are absolutely delighted to welcome our new residents and employees to Housing 21 in what represents the biggest acquisition in Housing 21’s 60-year history. Acquisitions are a key part of our growth agenda; in the past 18 months we have purchased over 970 properties from other landlords and are still committed to developing up to 400 new Extra Care and Retirement Living properties every year.
“As some housing associations are choosing to re-focus on general needs, Housing 21, as a specialist provider of housing for older people, is keen to acquire properties and ensure they remain a positive choice for residents, providing the safe, quality and affordable homes they deserve.
“Through acquisitions such as this, residents can feel reassured they are moving to a specialist provider of Extra Care and Retirement Living, who is entirely focused on meeting their needs. It also means these properties are retained to support the growing population of older people not just now, but in the future.”
Following the acquisition, Housing 21 now manages over 650 schemes across England with a total of over 24,000 properties.
Kris Peach, Managing Director of Extra Care, said: “To reach 10,000 Extra Care properties is fantastic but to do so in our 60th anniversary year is symbolic as we demonstrate our commitment to providing quality services to more older people.
“Extra Care provides residents with the opportunity to live independently for longer with the support and reassurance of on-site Care Workers who are available 24/ 7. This allows couples with differing care needs to remain together and helps to create communities that tackle social isolation and loneliness.
“As we increase our presence across England, we are giving more older people more choice and control over their future and will continue to identify opportunities for growth. This acquisition complements our existing portfolio, ensuring we can continue to grow to meet the needs of both new and current residents.”
Care at the transferring schemes is delivered by third party providers and will remain unaffected.
Joe Reeves, Executive Director of Finance & Growth at Midland Heart, said: “We’re confident that the transfer of these 23 schemes to a specialist provider will build on the high-quality services we have provided to our residents and offer colleagues more opportunities to develop in their chosen careers. We are sure all residents will continue to enjoy living in their homes, and we wish all colleagues transferring the best with their new employer and in their future careers.
“This transfer, which is one of the largest to have been undertaken in our sector, will give us valuable additional resource to make our next corporate plan our most ambitious yet. This plan will focus on our core purpose as a landlord of general needs homes. The resources from this transfer will be directed back into the organisation, enabling us to continue to build new, affordable homes that are needed in the Midlands. We will also invest in our existing homes to ensure that over 6,000 homes are fit for modern living with greater levels of energy efficiency, all at an EPC rating of C by 2030.”
