Housing 21 buys 445 extra-care properties from Clarion

The specialist provider said that the latest purchase, from Clarion, would enable it to “reach a wider demographic and provide high-quality care to more older people”. The association already owns sites near to those acquired, across extra care and retirement living.

London schemes moving across in the deal include Windmill Court, which features 44 one and two-bedroom apartments in Chingford, and Duncan Court, which offers 40 one-bedroom apartments. Meanwhile, in Norwich, Redmayne View offers 40 one-bedroom apartments. 

Tony Tench, deputy chief executive at Housing 21, said: “We are delighted to announce our latest acquisition of 445 properties from Clarion. This strategic move not only expands our portfolio but also allows us to continue our mission of providing extra care and retirement living for older people of modest means.

“We remain committed to investing in our existing homes while actively developing new housing options to meet the evolving needs of older individuals.

“In addition to the acquisition plans, Housing 21 remains committed to investing in existing homes, prioritising the comfort and well-being of all residents, ensuring that older people can continue to live in safe and comfortable environments.”

Housing 21 has plans to build up to 400 new homes for older people each year.

Asked the reason for the divestments, a Clarion spokesperson said: “Extra-care services is not our core business, so we took the decision to transfer these schemes to a more specialist care provider.”

However, the spokesperson added that Clarion is “not exiting from older people’s housing”. 

“The differentiation is that at these schemes, we were delivering an extra-care service,” they said.

Clarion declined to disclose the value of the transaction. 

The UK’s largest association has struck a number of deals to sell stock in recent years, including a major sale to Riverside in 2020.

Clarion’s legal advice was from Winckworth Sherwood, with independent tenant advisory from Communities First. Savills acted as transaction agent. Housing 21 was instructed by internal advisors. 

Michelle Reynolds, chief customer officer at Clarion, said: “Housing 21 is a market leader in housing and care for older people, evidenced by its high customer satisfaction. 

“Housing 21 was selected as our preferred bidder through a rigorous process, including three resident representatives on the assessment panel and in consultation with all residents across the 11 schemes.” 

The deal includes a mix of modern and older schemes. A Housing 21 spokesperson said: “Some schemes will have planned investment works in the future following consultation with residents on what is most important to them. All investment works will be delivered in line with Housing 21 policies and commitment to residents through our planned works programmes.”