0:05 AM, 26th November 2024, About A year ago 13
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A major landlord has unveiled plans to sell its private rented sector (PRS) business portfolio of 3,147 homes across 53 schemes in Greater London.
London & Quadrant Housing Trust (L&Q) is looking for buyers to take on its Metra Living arm.
The move is part of L&Q’s strategy to focus on its core business of providing social housing.
Most of Metra Living’s portfolio was built within the last decade.
The announcement comes days after housing minister Matthew Pennycook dismissed landlord worries about a poorly performing court system unable to deal with the abolition of section 21 ‘no-fault’ evictions under the Renters’ Rights Bill.
The group chief executive, Fiona Fletcher-Smith, said: “We’re proud to have built up a large and highly successful PRS business since entering the market in 2015.
“However, in recent years the social housing sector has faced economic volatility, policy shifts and funding uncertainties.
“In response, we have a clear strategy which is focused on simplifying our business, prioritising our core purpose as a social housing provider, and ensuring every L&Q resident has a safe and decent home with access to services they can rely on.”
She adds: “The sale of Metra Living will support this drive, enabling us to invest even more in our existing homes and services, and support the delivery of our longer-term objectives to build more of the affordable homes this country so desperately needs.”
The sale will include the transfer of Metra Living’s operational platform and team.
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Mr Blueberry
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Member Since August 2023 - Comments: 63
4:44 AM, 27th November 2024, About A year ago
Not only is Labour not on course to see 1.5M homes built during their tenure, but they are down more than 35% over this last quarter.
Ironically, the very ‘foundations’ the government purports to be putting in place for growth and building more homes are crumbling into quicksand due to excessive taxation, increased costs of materials and shortages of quality labour
Kizzie
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Member Since October 2022 - Comments: 379
10:39 AM, 28th November 2024, About A year ago
I’m just raising a question. Is BNP Paribas selling the freehold of Meritas Living?
Peter G
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Member Since March 2018 - Comments: 158
12:55 PM, 27th December 2024, About 12 months ago
Corporate LL are not the answer government expects. Tenants we know who need work done on their block of flats have been told by their corporate manager & maintenance company to “join the back of the queue” as there are costly more urgent jobs that need doing. Meanwhile, all the blocks deteriorate and look shabby.