Rosewood Housing has finalised a deal to acquire the affordable housing at a prestige new homes development in the heart of Tring from WE Black Ltd. This is the second deal for the registered provider, which was formed a year ago as a subsidiary of Inland Homes.
The scheme in Tring is the redevelopment of the former St Francis School site off Aylesbury Road, offering a total of 34 new homes, of which twelve are provided as affordable housing under the terms of the Section 106 agreement signed by WE Black Ltd. Rosewood will offer these twelve units as a mix of affordable rent and shared ownership. They are currently under construction, with residents expected to move in from February 2020.
Rosewood Housing was registered as a for profit provider of social housing in August 2018. It is an independently regulated, wholly owned subsidiary of the group, set-up to align with the strategic expansion and diversification of Inland Homes. The leading brownfield developer and housebuilder was one of the first UK publicly listed companies to attain registered provider status for a subsidiary. It is now seeking to grow its affordable housing portfolio in the south and south east of England. Earlier this year Rosewood took on its first affordable housing scheme at The Pheasant in Amersham.
Stephen Wicks, CEO of Inland Homes and Rosewood Housing, commented: “We have just passed the milestone of the first anniversary of Rosewood Housing and we are pleased to have taken on two affordable housing schemes. We are passionate about creating high quality places for people to live and that they can afford. The creation of an affordable housing arm to our business means we can offer homes in a range of tenures and across all affordability levels. We are now actively seeking further opportunities to grow our portfolio.”
The scheme in Tring is the first deal that Rosewood Housing has done with WE Black Ltd and the first within Dacorum Borough Council.
Eric Gadsden, Managing Director of WE Black Ltd, commented: “We have a huge amount of respect for the Inland team whom we have known since they started and are delighted to be working with them on their entry into social housing. We hope they will be pleased with our work at Tring and that there will be the opportunity for further mutually beneficial cooperation”.