B3Living has taken on the ownership and management of 250 homes from Orbit Group.
The majority of homes included in the transfer are let at social rents, but a number are also affordable rent, leasehold, and part-buy-part-rent homes offered through the shared ownership scheme.
The properties, primarily houses, alongside some bungalows and flats, are in the East Hertfordshire and Epping Forest districts. Located within our core area of operation, the acquisition takes our portfolio close to 6,000 homes spread across Hertfordshire and Essex and represents nearly 5% stock growth for our business.
They also support our net zero carbon ambitions with 85% of the transferred homes coming with an EPC C rating or higher.
David Biggs, Chair of the Board at B3Living, said:
“It is excellent to take on more residents in the communities where we work. I must extend thanks to Orbit Group for facilitating such a smooth transaction for us and the residents affected.
This stock transfer is a significant addition to our housing portfolio and a valuable opportunity to grow as a business amidst a climate of economic and operational uncertainty.
“It also enables us to consolidate the strong presence in this area, so we look forward to offering our new residents high-quality local services and personalised support to thrive in their homes.”
A consultation was carried out by Orbit to obtain feedback from the residents affected by the transfer.
Trevor Graham, Interim Chief Property Officer at Orbit, said:
“We are delighted to complete this transfer with B3Living as part of our densification strategy to create operational economies of scale across our wider portfolio.
“We have worked closely with B3Living to make the transition as seamless as possible for customers in the area and are confident the team at B3Living will continue to provide them with quality local service.”
B3Living and Orbit have worked together to ensure a smooth transition for everyone involved. Over the coming weeks, B3Living representatives will carry out in-person visits to deliver welcome packs and formal introductions to new customers.