Buying and Selling
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New Homes for Old.
Our assest renewal strategy
Some statistics for you…
- 92% of our homes are over 25 years old.
- 10% of the stock is over 75 years old.
- 16% of the stock will incur 45% of our future capital expenditure.
The basis of our new strategy is providing tenants with brand new homes for old.
New homes meet today's tenants' expectations, are more comfortable to live in and reduce household fuel bills. Older properties are difficult and costly for the Trust to maintain. So, we are now selling homes that are going to be very costly to look after, or those with a very high capital value. By identifying these homes, the proceeds from the sales will go towards purchasing 3,000 new homes over the next ten years.
The Acquisition and Disposal Strategy enables the Trust to add a significant number of new properties to our housing stock, and dispose of those requiring significant investment to maintain.
Much of the research carried out into what makes a sustainable community has pointed towards mixed tenure One main element of replenishing stock is via 'Section 106', a planning requirement in which developers are obliged to make an element of new build projects available for social/affordable housing.
Our expectation is that for every two properties we sell, we will be able to acquire three new ones.
Results:
- More new homes that are cheaper to run
- Homes meeting today's tenants' expectations
For more information contact Andrea Martin on 01952 217133