Later living provider increases extra care portfolio to 10,000 homes
Housing 21 has bought 1,567 homes from Birmingham-based housing association Midland Heart, in its largest acquisition to date.
The non-profit retirement housing provider has completed the purchase of 23 schemes from Midland Heart, bringing in more than 1,600 residents and 137 employees.
Following this acquisition, Housing 21 now owns more than 10,000 extra care properties and 14,000 retirement homes.
Extra care properties offer 24/7 support from onsite care workers.
Housing 21 said it is committed to continuing to develop 400 new extra care and retirement homes a year, despite its focus on acquisitions.
In 2023, Housing 21 acquired 487 extra care properties from Notting Hill Genesis. Housing 21 also purchased another 444 extra care properties from Clarion.
>> See also: Housing 21 appoints new chair
>> See also: Proportion of older people living in PRS to treble by 2040, CaCHE report finds
In July 2024, Housing 21 acquired 42 properties from Rooftop Housing Association.
Tony Tench, deputy chief executive at Housing 21 said: “We are absolutely delighted to welcome our new residents and employees to Housing 21 in what represents the biggest acquisition in Housing 21’s 60-year history.”
Tench added: “acquisitions are a key part of our growth agenda; in the past 18 months we have purchased over 970 properties from other landlords and are still committed to developing up to 400 new extra care and retirement living properties every year.
“As some housing associations are choosing to re-focus on general needs, Housing 21, as a specialist provider of housing for older people, is keen to acquire properties and ensure they remain a positive choice for residents, providing the safe, quality and affordable homes they deserve.”
He said that with this acquisition residents can feel reassured they’re moving to a specialist provider who is entirely focused on meeting their needs.
>>See also: A new and anti-loneliness model for later living: How a charity connects older residents with the community
>>See also: Removing the barriers to later living development
“It also means these properties are retained to support the growing population of older people not just now, but in the future,” he added.
Kris Peach, managing director of extra care, said: “As we increase our presence across England, we are giving more older people more choice and control over their future and will continue to identify opportunities for growth. This acquisition complements our existing portfolio, ensuring we can continue to grow to meet the needs of both new and current residents.”
Joe Reeves, executive director of finance and growth at Midland Heart, said: “We’re confident that the transfer of these 23 schemes to a specialist provider will build on the high-quality services we have provided to our residents and offer colleagues more opportunities to develop in their chosen careers.
“We are sure all residents will continue to enjoy living in their homes, and we wish all colleagues transferring the best with their new employer and in their future careers.”
Reeves said that the resources from the transfer will enable Midland Heart to continue to build new, affordable homes that are needed in the Midlands. Midland Heart will also reinvest the money in its existing homes “to ensure that over 6,000 homes are fit for modern living with greater levels of energy efficiency, all at an EPC rating of C by 2030.”
No comments yet