Disposal part of plan to reduce number of local authority areas in which the 47,000-home provider operates
Orbit Group has signed a deal to sell 2,227 homes to Surrey-based provider Raven Housing Trust.
The move to sell the homes, which are for a range of tenures and span nine local authority areas outside of Orbit’s core operating areas, is part of the 47,000-home provider’s ongoing stock rationalisation programme.
The proceeds generated will be reinvested into the group’s core geographies in London, the midlands, east and other parts of the south east as part of its 2030 strategy.
Phil Andrew, chief executive at Orbit, said: “We’re working to optimise the core geographical areas where we work and build, to enable us to be more consistent as a great social landlord for our customers.
“We believe customers receive the best service when their landlord has a strong presence in the area and are confident that Raven Housing Trust will provide long-term benefits for customers.
“Reducing the number of local authorities in which we operate means we can focus further on improving customer satisfaction, value for money and services for customers in our core areas, as well as expanding our presence in these areas to provide a more people with a good quality home that they can afford, in a place that they are proud to live.”
Orbit last year set a new, higher target of building 7,000 homes by 2030. Under its 2030 strategy it is working to deliver its transformation programme, called Everyday Excellence. It has set up a new customer care scheme, a new neighbourhood management approach and made changes to its complaints processes. It has also set up the first phase of a new customer relationship management platform.·
The acquisition of the homes takes Raven’s stock total up from around 7,000 to 9,500, an increase of around a third.
Jonathan Higgs, chief executive of Raven, said: “This transfer strengthens our ability to invest in homes, services and communities, creating an even greater positive impact for both existing and new customers.
“It expands our capacity to provide more affordable homes, support more people and build stronger communities across the region. Most importantly, it allows us to build on our purpose of building homes and changing lives, delivering what matters to customers today and for generations to come.”
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