Transfer is part of NHG’s stock rationalisation strategy
Hertfordshire housing association B3 Living has increased its total housing stock 5.5% by acquiring 337 homes from Notting Hill Genesis (NHG).
The homes are dispersed across four Hertfordshire boroughs with the majority in Welwyn Hatfield. They are mostly for social rent with around 20% leasehold and shared ownership properties.
The move means B3 Living, formed through a stock transfer of Broxbourne Council homes in 2006, now manages nearly 6,000 properties.
Andy Walder, chair of B3Living said: “This stock transfer is the largest addition to our portfolio to date and presents us with an excellent opportunity to strengthen our local presence and grow as a business”.
The sale is part of NHG’s stock rationalisation programme in which it is concentrating on its core geographical area of London.
Matthew Cornwall-Jones, chief homes officer at NHG, said: “As we refocus our efforts on London, we make sure that any transfer of homes is handled responsibly, choosing partners who share our purpose, are committed to excellent resident experience and already play a positive role in the local community. B3Living reflects these values, and we wish them every success.”
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