Social housing providers team up in Essex growth plan
Essex-based housing association CHP has formed a long-term partnership with social housing provider NewArch Homes.
NewArch Homes, owned by the Octopus Affordable Housing Fund, has bought 220 homes from CHP. The homes are a mix of affordable rent and shared ownership. Housing management services will be provided by CHP.
The pair plan to deliver more homes to help address the shortfall of affordable housing and have created a growth plan for development in Essex.
Essex-based housing association CHP has formed a long-term partnership with social housing provider NewArch Homes.
NewArch Homes, owned by the Octopus Affordable Housing Fund, has bought 220 homes from CHP. The homes are a mix of affordable rent and shared ownership. Housing management services will be provided by CHP.
The pair plan to deliver more homes to help address the shortfall of affordable housing and have created a growth plan for development in Essex.
CHP has a growth strategy to deliver 500 homes a year.
Fiona Hollingsworth, CHP’s growth and partnerships director, said: “It is important to CHP that we only work with partners whose strategies strategically align to our own. Working with for-profit providers allows CHP to invest in building more great new homes across Essex, so that we have a greater impact on the housing crisis.
“NewArch Homes also shares similar values to CHP and, in particular, is committed to providing excellent services to customers. We’re proud of our track record and excited to be combining our expertise in this new partnership with NewArch Homes.”
Peter Merchant, investment director at Octopus Real Estate, said: “We are pleased to enter into partnership with CHP, an organisation with which we have many shared values, to deliver new affordable housing across Essex.”
