CHP acquires over 500 homes from L&Q

Fiona Hollingsworth, growth and partnerships director at CHP, said: “We’re really pleased to have completed the transfer with L&Q. 

“We already have a large number of homes in Chelmsford and have worked in the city for more than 23 years, so we know the area and its people well. As a local, community-based provider, we’re confident we can provide an excellent service to our new customers, and we look forward to working with them.

“The transfer aligns with CHP’s growth strategy to deliver more great new homes in Essex. Owning and managing more homes in our core operating area makes us a stronger organisation, able to offer excellent local services to our customers.”

Evonne Clarke, strategic head of stock rationalisation at L&Q, said: “After consulting with residents, we have decided to proceed with the transfer of homes in Chelmsford to Chelmer Housing Partnership (CHP), a locally managed landlord who we believe is best placed to provide an excellent service in the area.

“As an organisation, we consider homes for transfer where they sit outside our core areas of Greater London and Greater Manchester.

“This supports our strategic decision to focus our activity on areas where we have the greatest concentration of homes, enabling us to provide responsive, joined up services which offer best value for residents.”

CHP said the transfer of homes followed “thorough due diligence and comprehensive consultation” with the customers involved.

Earlier this month, the housing association announced a new, long-term partnership with NewArch Homes, a for-profit registered provider owned by the Octopus Affordable Housing Fund.

Last month, CHP and fellow Essex-based landlord Estuary Housing Association revealed they had entered talks over a potential merger to become a 16,000-home group. In November, CHP secured its first private placement in a £150m deal.

L&Q has been busy with stock transfers over recent months. In September, the G15 landlord sold 201 homes to fellow London landlord RHP and last month it said it was considering a 3,500 stock transfer in south Buckinghamshire.

The strategy of stock transfers to exit non-core geographies forms part of a focus on balance sheet restructuring, intended to shorten the 15-year schedule for its £3bn works programme under its current business plan.