Social landlord snaps up dozens of homes in county after £6m deal
A DERBY housing provider has taken control of more than 100 homes in the county after agreeing a £6 million deal with a Nottingham property firm.
Derwent Living, which has its head office on Pride Park, has taken over the ownership and management of 111 properties from Metropolitan.
Metropolitan is transferring 51 of its social rented homes in the Derbyshire Dales and 60 in Bolsover to Derwent.
The transfer, which came into effect on Monday, brings the total number of properties under Derwent's control to around 15,100.
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Sam Veal, head of development at Derwent Living, said: "The acquisition will strengthen our position as a leading Midlands housing provider. Derbyshire is Derwent Living's home county and this deal strengthens our business in a core area of our operation."
Formed in 1964, Derwent provides affordable living to people from all backgrounds in the Midlands, South Yorkshire and the South East.
Its portfolio includes homes to rent for people on lower incomes, large-scale student accommodation or part-buy part-rent for professionals and NHS staff.
It also provides homes to rent and buy for people aged over 55.
Metropolitan provides integrated housing services, care and support and community regeneration in the East Midlands, London and the East of England.
Simon Marks, senior project manager at Metropolitan, said: "This portfolio was acquired by Metropolitan through a merger some years ago and is remote from our other stock holdings in the Derby area.
"As a social housing provider, Derwent Living is well placed to take over the landlord function for these homes."
The sale follows on from a £45 million deal achieved by Derwent Living in 2011, which saw the transfer of 1,144 social properties from another housing association Home Group.
The deal, funded through the Aviva Group, brought Derwent's stock total to around 15,000 properties – making it one of the largest housing associations in the Midlands.
It was seen as a landmark deal as Derwent was the first housing provider to acquire direct investment of pension fund money into social housing via Aviva.