Notting Hill Genesis adds 590 homes to temporary housing portfolio

Notting Hill Genesis has partnered with social impact property fund manager Resonance that will see it take over the management of 590 properties from Resonance’s property fund. The arrangement is the largest ever of its kind carried out by Notting Hill Genesis’ temporary housing business. The group is taking an initial 100 homes where families are already living as tenants, which will be followed by another 450 properties at a later date in 2023. During 2023, Resonance will also purchase and refurbish additional homes to transfer into the growing portfolio. It will work alongside tenants to sustain their tenancy and “make positive plans in other areas of their lives”, such as tackling mental health and addiction issues, and finding employment, training and education. Resonance is said to have an “outstanding” track record of social impact investing, and every year produces impact reports for all its property funds. In turn, it will provide regular social impact reports to Resonance showing how it is helping residents to gain greater independence and eventually move into the private housing sector. Many of the properties Notting Hill Genesis is taking over were previously managed by homelessness charity St Mungo’s. Rebecca Brennan, assistant director of temporary housing for Notting Hill Genesis, said: “It’s really exciting to be adding so many homes to our portfolio. We generally have around 3,000 temporary homes at any time, mainly leased to us by private landlords. This market is harder than ever to access, while demand for stable homes within our communities is very high so an extra 590 homes is a huge boost for us. “Being able to offer these homes to families in need is something we are extremely proud of and working with an organisation like Resonance which shares our strong social purpose will be of benefit to everyone involved. We look forward to meeting our new residents in the coming weeks.” John Williams, managing director of property funds at Resonance, added: “This partnership is ground-breaking. It’s vital for us to partner with exceptional like-minded housing partners like Notting Hill Genesis, who have an outstanding record of supporting tenants and providing them with specialist support services as required. “This partnership represents one of this fund’s largest portfolios of housing and is a great opportunity for us to continue to tackle the housing crisis in London. I am particularly pleased that in transferring the initial tranche of 100 properties we already own to Notting Hill Genesis, we are providing the tenants who live in these homes with continued stability and peace of mind.” He concluded: “And I look forward to seeing the successful transfer of 450 additional tenanted properties - plus the new properties the fund is purchasing and refurbishing for Notting Hill Genesis - during the coming year, adding to the growing portfolio.”

Notting Hill Genesis adds 590 homes to temporary housing portfolio

The arrangement is the largest ever of its kind carried out by Notting Hill Genesis’ temporary housing business

Read Next

House prices 8.3 times the average annual salary

Vistry profits rise 20% in FY22

Bargate Homes opens two Show Homes at £128m Rivercross Scheme

Nottingham BTR scheme brought to market for £23m

Savills advises on sale of 66 Derby homes to Hearthstone

House prices 8.3 times the average annual salary

Vistry profits rise 20% in FY22

Bargate Homes opens two Show Homes at £128m Rivercross Scheme

Nottingham BTR scheme brought to market for £23m

Savills advises on sale of 66 Derby homes to Hearthstone

Crest Nicholson launches show homes in Warwickshire

Peel NRE submits plans to regenerate Fiddler’s Ferry

Barberry celebrates record profits of £17.1m

RLAM sells Preston leisure park to British Land for £51.5m

BoE raises interest rates to 4.25%

Read Next

House prices 8.3 times the average annual salary

Vistry profits rise 20% in FY22

Bargate Homes opens two Show Homes at £128m Rivercross Scheme

Nottingham BTR scheme brought to market for £23m

Savills advises on sale of 66 Derby homes to Hearthstone

Related Articles

Crest Nicholson launches show homes in Warwickshire

Peel NRE submits plans to regenerate Fiddler’s Ferry

Barberry celebrates record profits of £17.1m

RLAM sells Preston leisure park to British Land for £51.5m

BoE raises interest rates to 4.25%