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Octopus and Golding complete transfer of 180 affordable homes outside Mid Kent

21 Jun 2024 Reading time: 2 mins

Maidstone-based Golding Homes (Golding) has finalised the transfer of 180 affordable homes to NewArch Homes, a registered provider of social housing managed by Octopus.

Located in Bexley, Dartford, Sevenoaks, and Wealden, the mix of 111 affordable rent, 68 shared ownership and 1 leasehold house and flats are all between 2 and 6 years old. Housing management services will now be delivered by Southern Housing.

Today’s news is the first major deployment by the Octopus Affordable Housing Team which aims to accelerate the much-needed delivery of quality, affordable homes in the UK. By both funding the construction of new housing and making strategic acquisitions of high-quality existing stock, the team works to increase the total capital available for the supply of affordable housing.

With the capital raised through its first close in December now committed and a significant element now fully invested, the team has demonstrated its ability to deploy funds efficiently and quickly, into high quality homes with reputable partners, to help address a key societal challenge.

Peter Merchant, Investment Director at Octopus Real Estate, said: “We’re delighted to have acquired these modern, high-quality affordable homes. At Octopus our aim is to work with housing providers and local authorities to accelerate the delivery of affordable homes, and we’re pleased this transfer will allow Golding Homes to reinvest funds to further increase the supply of affordable housing in the local community.”

Tom Casey, Director of Development and Strategic Asset Management at Golding Homes said: “The sale and transfer of these homes located outside of our core operational area, has been a strategic objective. This transfer enables us to strengthen our commitment to customers in and around the Borough of Maidstone where we’re based and deliver on our ambition to be visible, local and listening.”

A key example of this strong local commitment can be seen in recent weeks, with Golding starting work on a major investment project in Shepway, Maidstone. This will see the development of 236 new, energy-efficient, affordable homes and a modern shopping area with improved landscaping and community facilities. Golding has also launched a £60million investment programme for improvements to existing homes, to be delivered over the next three years.

Tom Casey continued: “As a local landlord, it’s important customers remain at the heart of all we do. We’re pleased to have worked collaboratively with NewArch Homes and their managing partner Southern Housing, to ensure this transition is smooth, and customers continue to receive a high-quality service.”

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