The stock transfer sees the housing provider strengthen its presence in the Midlands
Social housing provider Stonewater is continuing its expansion with the acquisition of 186 properties from Bromford Housing Association. The purchase includes six for supported housing, 53 shared ownership properties and 127 homes for general needs.
The purchase further increases Stonewater’s presence in the region, where they already manage more than 1,400 properties across Coventry, North Warwickshire and Nuneaton and Bedworth.
The tenanted transfer follows a consultation period with residents during which no concerns were raised. The housing provider says it is committed to ensuring there is no interruption to service for existing residents.
Patrick Chauvin, executive director of assets, homes at Stonewater, commented: “We already own and manage a significant number of homes in the area, and we are always looking for new opportunities to provide high quality affordable homes and related services for people whose needs are not met by the open market.
“Everything we do at Stonewater is driven by our vision of enabling everyone to have the opportunity to have a place that they can call home and we are delighted to have reached an agreement with Bromford Housing to add these homes to our portfolio.”
Bromford’s strategic property planning manager, Jonathan Cooper, said: “We are delighted to have reached an agreement with Stonewater which marks the completion of our strategic goal to consolidate our presence in those communities where we are best placed to make a difference.
“Throughout this process, engaging with and empowering our customers has been our top priority. We firmly believe that this stock transfer is in our customers’ best interests, and we are confident that Stonewater will continue to build on the high standards of service which Bromford customers have come to expect.”
The newly acquired properties are being managed from Stonewater’s new hub in Coventry. Hubs are also being set up in Reading and Bournemouth as Stonewater plans to make being a home-based organisation a permanent move, following the switch due to the pandemic.