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Southern Housing acquires 794 homes from L&Q

Southern Housing acquires 794 homes from L&Q

Southern Housing has confirmed its first major asset acquisition since registering as a housing provider in December 2022 following the merger of Southern Housing Group and Optivo. The first tranche transfer of 694 homes from L&Q, which completed today, builds on Southern Housing’s already significant presence in Surrey, England.

Richard White, Executive Development Director at Southern Housing said: ‘We are thrilled to have successfully completed a stock acquisition of this scale during what is an exciting time for Southern Housing.

‘It provides a timely boost for the new organisation and represents our forward- looking approach to being a strong, well-resourced local provider of homes.

Strengthening our presence across key local authorities will allow us to achieve our ambition of deepening our ties with communities, being a stronger partner with local authorities and creating better housing for local people’.

The newly acquired homes are located within eight local authorities, Guildford; Mole Valley; Runnymede; Rushmoor; Reigate & Banstead; Surrey Heath; Woking; and Wokingham. Southern Housing’s significant and pre-existing presence has been built up over several decades. The acquisition of almost 800 former L&Q properties is wholly aligned with the strategy of the new organisation.

Emmanuel Thiagaraj, Senior Stock Acquisitions Manager at Southern Housing said: ‘This is our first stock transfer completion under the Southern Housing banner. We are delighted to share its success so soon after the start of the New Year and the new organisation. The acquisition epitomises Southern Housing’s vision as a creator of communities where everyone has a safe, secure home in a place where they’re proud to live.

‘Creating areas where we have a high concentration of homes, allows us to wield more influence and focus more resources, which will enable more positive change on behalf of our residents’.

The acquisition will take place in two tranches with 694 homes transferred today, with the rest in March 2023.

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BDC 301 February 2023