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Giant housing association plans to sell 300 homes to for-profit provider
A large Worcester-based housing association is planning to sell 300 homes to a for-profit provider.
A giant housing association is planning to sell 300 homes to a for-profit provider #UKhousingA large Worcester-based housing association is planning to sell 300 homes to a for-profit provider #UKhousingSanctuary is consulting with residents on the sale of 300 shared ownership homes to a for-profit housing provider.
The 125,000-home association plans to sell the homes to MTD Housing, a for-profit backed by the Pears family.
Management of the homes would transfer to Pinnacle Affordable Homes, which is part of Hyde Group.
Affected shared ownership tenants have been notified of the sale, which is intended to help free up capital for other purposes.
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A spokesperson for Sanctuary said: “Like many other housing associations, we continue to explore routes to recycle our capital and bring new investment into the sector, which includes the sale of some of our shared ownership homes.
“If a sale does go ahead, the leases on the homes would remain unchanged, with customers retaining the right to challenge any potential increases to their service charges in the future.”
MTD Housing said any costs will “remain in line with market rates and focused on delivering a higher level of service and accountability”, while service charges can only reflect actual costs.
In its accounts for 2024-25, Sanctuary said it was planning to sell 2,000 shared ownership homes in the year to 31 March 2026 via two transactions.
Last year, large housing association Peabody sold 327 shared ownership homes to MTD Housing. Peabody said the deal was done after a consultation with residents, and that the income would be invested in improving existing properties and building more social and affordable homes.
In Inside Housing Living’s exclusive Fastest-Growing For-Profits 2025 survey, the Peabody-MTD Housing transaction ranked as the biggest stock transfer from a housing association to a for-profit provider last year.
In July, Sanctuary agreed to sell its student housing arm to Global Student Accommodation for around £400m.
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