SUNDERLAND-based Gentoo Group says it will invest £417 million on improving its existing homes and bring 1,100 new homes for rent and sale to the market over the next five years.
Through its 2019-24 business plan, the housing provider is set to invest £300 million to improve its existing homes. This includes:
- £22 million to fit more than 9,000 properties with full double-glazed windows by 2023
- £38 million on fire-risk works, external painting and environmental improvements to estates
- £110 million on repairs and maintenance services
The group has also announced plans to increase the number of “affordable” rented properties available in Sunderland.
Through its affordable homes plan, Gentoo intends to invest a further £117 million and provide an additional 900 homes for “affordable” rent in the city by 2024 via a mixture of new build and existing properties.
In addition, its commercial arm, Gentoo Homes, will build more than 200 new homes for sale each year and generate an annual profit in the region of £4 million to subsidise the group’s affordable homes plan.
Furthermore, Gentoo Group says its business plan has “clear objectives” to enhance it services for tenants. This includes:
- Improving its digital offer
- Improving the services for tenants with complex needs
- Strengthening the customer voice in all of its work
“Our five-year business plan is an ambitious programme of investment and house building but our tenants are at its heart,” said Nigel Wilson, Gentoo’s group chief executive (main picture).
“We want to ensure our tenants’ voices are heard and they have the chance to influence and shape the services we deliver for them. Our property investment programme will also ensure they have the best quality homes possible in estates they are proud to call home.
“Gentoo is directly addressing the ongoing shortage of affordable rented homes in the city by committing to bringing 900 more properties to the market in the next five years. Together with our Gentoo Homes build programme, we will provide a huge choice of rented and private properties for the people of Sunderland and the wider region.”