This week we completed the sale of 335 homes in Hertfordshire to B3Living.
This is part of our wider programme of strategic disposals as we refocus our efforts on London. Throughout this process, we make sure that any transfer of homes is managed responsibly, choosing partners who share our purpose, are committed to excellent resident experience and already play a positive role in the local community.
B3Living is a C1, G1, V1-rated housing association. These high ratings were reflected in the assessments we carried out prior to the transfer, giving both us and the involved residents confidence in their skill to manage these homes for the long term. Most homes in the transfer are let at a social rent and around 20% are leasehold and shared ownership properties.
We have worked with B3Living to ensure a smooth transition for all residents involved in the transfer and extensively consulted residents throughout. We held local and virtual meetings and proactively contacted 60% of residents by phone to get their views. Residents were invited to ask questions and give feedback which was overwhelmingly positive about B3 Living.
Following this thorough consultation, B3Living staff are now carrying out in-person visits to deliver welcome packages and formal introductions to new customers. We wish our former residents and B3Living every success.
We’re also progressing with the sale of over 500 homes in Hertfordshire to Watford Community Housing Trust. Completion is scheduled for March 2026, subject to the satisfactory conclusion of resident and staff consultation. We will bring you further updates nearer to the time. Watford Community Housing Trust are also G1, V1, C1-rated.
Altogether this means we will have sold 59% of our Hertfordshire homes with 652 assets left including homes and community centres, where our operational teams continue to provide an excellent service. The funds raised will be reinvested in our existing homes as part of our commitment over the next 10 years. This means delivering the things that matter most to our residents - replacing more kitchens, bathrooms, boilers, windows, doors, roofs and lifts, and retrofitting homes to make them warmer and more energy efficient.
