Major housing associations Stonewater and Bromford have completed a stock transfer of 186 homes in the West Midlands.
Stonewater has purchased 186 homes from Bromford in Coventry, North Warwickshire and Nuneaton and Bedworth, including six homes for supported housing, 53 shared ownership properties and 127 homes for general needs.
33,600-home landlord Stonewater already manages over 1,400 properties in the boroughs covered by the transfer. Bromford, meanwhile, owns and manages 44,000 homes, predomonantly in central and South West England.
Patrick Chauvin, executive director of assets, homes at Stonewater, commented: “We already own and manage a significant number of homes in the area, and we are always looking for new opportunities to provide high quality affordable homes and related services for people whose needs are not met by the open market.
“Everything we do at Stonewater is driven by our vision of enabling everyone to have the opportunity to have a place that they can call home and we are delighted to have reached an agreement with Bromford Housing to add these homes to our portfolio.”
The stock transfer has been completed with the support of Coventry City Council, Nuneaton and Bedworth Borough Council and North Warwickshire Borough Council, in partnership with the Regulator of Social Housing and Homes England.
The transfer follows a consultation period with residents during which no concerns were raised. Stonewater has said it will work to ensure that “there is no interruption to service” for existing residents.
The newly acquired properties will be managed from Stonewater’s new hub in Coventry as part of its shift to a new hybrid working model.
The organisation will remain predominantly home-based as it has been throughout the COVID-19 pandemic, but is setting up flexible workspaces in Coventry, Reading and Bournemouth.
Bromford’s strategic property planning manager, Jonathan Cooper, said: “We are delighted to have reached an agreement with Stonewater which marks the completion of our strategic goal to consolidate our presence in those communities where we are best placed to make a difference.
“Throughout this process, engaging with and empowering our customers has been our top priority. We firmly believe that this stock transfer is in our customers’ best interests, and we are confident that Stonewater will continue to build on the high standards of service which Bromford customers have come to expect.”
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