NewArch Homes has purchased 220 homes from Essex-based housing association CHP for an undisclosed price.
Of the new affordable rent and shared ownership homes, 59 are from CHP’s development pipeline and the remaining 161 are already tenanted.
CHP and NewArch Homes, which is a registered provider of social housing owned by the Octopus Affordable Housing Fund, aim to work together to deliver more affordable homes in Essex.
Fiona Hollingsworth, growth and partnership director at CHP, said: “I am really pleased that CHP has established a partnership with NewArch Homes. 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’ commitment to, and innovation in, energy improvements particularly impressed us, and this is something we’re keen to build on as the partnership evolves. Importantly, 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, added: “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. CHP’s unwavering commitment to developing new builds, even in the face of challenging market conditions, demonstrates their dedication to supporting the housing needs of the communities they serve.
“Together, we are excited to leverage our combined expertise to develop and deliver more homes, ensuring that communities benefit from both innovative energy improvements and excellent customer service.”
