Derbyshire based Futures Housing Group have added 470 homes to their growing housing stock following a deal with Notting Hill Genesis.
The bulk of the homes are based in Northamptonshire, where they already manage more than 3,000 properties, and the newly acquired stock will take their portfolio to more than 9,800 homes – a 5% increase.
The homes are around 10 years old and a mix of general needs, shared ownership, intermediate, supported housing and associated offices.
The value of the deal is not being revealed due to commercial sensitivity.
Marcus Key, Group Director of Business Growth & Transformation, says: “The Group is really pleased to have exchanged contracts on this deal to add to our growing portfolio.
“It’s a real statement of our ambition to grow and thrive as a major player and voice for social housing in the East Midlands.
“This is a truly exciting time for Futures. We’re acquiring stock, striking up new partnerships, delivering better services and we’re on course to develop more than 1,000 brand new homes by 2020 to help tackle the housing crisis.”
Carl Byrne, Group Director of Housing for Notting Hill Genesis, adds: “We would like to say a big thank you to all of the residents who took part in the consultation process and wish all of our former tenants a successful future with their new landlord.
“A number of staff will also transfer over as part of this agreement and we are sure they will continue to provide a great service to their residents. We would also like to thank them for all their hard work.”
The deal will see Futures take over management of the homes and welcome 15 staff from Notting Hill Genesis into the Group.
Recently, the firm have been awarded Investors in People’s Gold Award for the first time in our history; achieved Investors in Excellence ‘great’ rating; been listed at 12 in the UK’s top 50 landlords, we’re one of Derbyshire’s top 100 businesses and have won or been shortlisted in a number of national awards for procurement, communication and governance.