Hyde Group Stock Rationalisation (5925H)

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RNS Number : 5925H

Hyde Group

13 March 2018

The Hyde Group has exchanged contracts with Southern Housing Group, one of the largest housing associations in London and the South East, on a major stock transfer. The transfer is part of a successful stock rationalisation programme, to reduce the geographical footprint of our homes and allow us to focus our resources and improve landlord services across our remaining homes.

Southern Housing Group has purchased 524 homes for GBP45m in eight local authorities - Woking, Rushmoor, Thurrock, Southend, Hastings, Rother, Wealden, and Sevenoaks - spanning across a range of tenures from general needs, shared ownership to supported housing.

The portfolio includes management agreements with seven different third-party registered providers and care and support providers. In addition, Southern Housing Group will directly manage a sheltered housing scheme in Hastings.

Alan Townshend, Group Development Director at Southern Housing Group, said: "We have worked hard alongside the Hyde Group to complete this stock acquisition and are very pleased with the result.

"We are confident that this transfer will ensure that customers continue to receive the best possible service as we already manage a number of homes in these eight local authorities. With our staff working from a number of offices across London and the South East, our focus is on delivering excellent local services, ensuring that we quickly visit customers and, wherever possible, resolve issues there and then.

"This marks an important milestone for Southern Housing Group, and moving forward our New Business Team will continue to work to identify new stock acquisition opportunities in London and the South East."

David Gannicott, Business Development Director at the Hyde Group, added: "This is an important transfer for Hyde and the result of a three year stock rationalisation programme. We are confident that Southern Housing Group is perfectly positioned to continue to deliver an excellent service for residents in these areas."

The transfer is part of a successful stock rationalisation programme implemented by Hyde, to reduce the geographical footprint of our homes. This means we are able to better focus our resources and deliver more value for money and improved landlord services across our remaining 50,000 homes.

Southern Housing Group and Hyde are due to complete the acquisition at the end of April.

This information is provided by RNS

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March 13, 2018 09:52 ET (13:52 GMT)