Landlord News

Southern Housing Group Transfer Homes

It has been announced that Southern Housing Group (SHG) has completed the first part of its “stock rationalisation programme”. They have now, therefore, transferred 112 homes in Kent and East Sussex to local landlords.
 
SHG owns and manages 25,000 homes in the South of England and has managed to transfer the 112 homes to West Kent Housing Association and Town & Country Housing Group. This has raised approximately £6.5 million.
 
The Reinvestment Director at SHG, Stephen Ross, has been quoted saying: “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.”

He went on to add: “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.”

Furthermore, Stuart May, Head of Housing Consultancy at Faithorn Farrell Timms, has been explaining that the transfer symbolises “a successful result for all three parties, while also achieving excellent value for money with the residents transferring to more locally-based landlords.”

Mr May went on to add the following: “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.”

It has been reported that the next stage of the “stock rationalisation programme” will see the transfer of 800 homes to several landlords.