Acquisition

Housing 21

01 October 2024

 

Housing 21 reaches 10,000 Extra Care properties with largest ever acquisition

Housing 21 has completed its largest acquisition to date with the transfer of 1,567 older person's properties from Midland Heart.

The leading not-for-profit provider of Extra Care and Retirement Living completed the purchase of 23 schemes from Midland Heart with over 1,600 residents and 137 employees transferring to Housing 21.

At schemes where on-site care is provided, all of the Care Teams will remain unaffected as all care is delivered by third-party providers who will continue to provide the same care to residents with the same employer.

Tony Tench, Deputy Chief Executive for Housing 21, said: "Acquisitions form a key part of our growth strategy, alongside our commitment to develop up to 400 new properties per annum. In the past 18 months, we have successfully acquired over 970 properties from three other providers who, like Midland Heart, recognised our expertise in providing safe, quality and affordable homes to older people of modest means.

"Our combined approach of acquiring properties alongside the development of new sites helps to ensure existing housing opportunities for older people are protected whilst we continue to bring forward new schemes. This provides ongoing security for our current residents, who can be reassured we remain committed to meeting their specialist needs whilst providing increased opportunities for older people seeking housing with care or support in the future."

As a direct result of the acquisition, which was funded through cash and revolving credit facilities, Housing 21 has now surpassed the milestone of over 10,000 Extra Care properties. These will be managed alongside its 14,000 Retirement Living homes across a combined total of 650 schemes in England.

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