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Housing Today
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L&Q puts £58m-turnover PRS company up for sale
Housing association seeks buyer for loss-making 3,000-home subsidiary as it prioritises its ‘core purpose’
L&Q is seeking a buyer for its commercial private rented business as part of a strategy to prioritise its “core purpose” as a social housing provider.
The 109,000-home provider has announced that it is seeking a buyer for its subsidiary L&Q PRS Co, which trades under the brand name Metra Living.
Metra Living posted revenue of £58m in 2023/24 and manages a portfolio of 3,147 homes across 53 schemes in London. Most of the homes were built within the last 10 years. The business made an operating margin of 65% in 2023/24.
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