Midland Heart Capital PLC Transfer of 23 Retirement Living Schemes

RNS Number : 5157G

Midland Heart Capital PLC

01 October 2024

 

Transfer of 23 Midland Heart Retirement Living Schemes to Housing 21

After completing thorough, fair and meaningful tenant and colleague consultations and concluding legal formalities, we have successfully completed the transfer of 23 of our Retirement Living schemes to specialist provider, Housing 21.

21 Extra Care villages and schemes across our core operating geography and a further 2 that sit marginally outside have now transferred to Housing 21's ownership, along with the c.1500 residents who live within these schemes. A further c.150 colleagues have also transferred, with their employment rights protected under Transfer of Undertakings Protection of Employment Regulations (2006) (TUPE).

Any care received in our schemes has been completely unaffected by this transfer as it is already provided by an independent specialist provider.

We believe Housing 21 will build on the high-quality services we have provided to our tenants and offer colleagues more opportunities to develop in their chosen careers. This transaction is part of our substantial progress to simplify our business to focus on our core function as a landlord of general needs, rented homes.

For further information, please contact [e-mail].

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