Auxesia offloads 134 properties for £13.5m

The for-profit registered provider has sold 89 shared ownership properties and 45 homes for affordable rent across the North to Onward Homes.

The 134 homes are located in Wyre, Preston, Fylde, West Lancs, Salford, Bolton, Wigan, and Wirral. All rated EPC B and above.

Claire Donnelly, interim chief executive at Auxesia Homes, said: “This is an important deal for Auxesia, as we once again deliver and transfer a strong portfolio of quality homes, with tenants in place or ready for new occupation.

“Partnerships with other RP’s such as Onward are critical to our business model, where our values and our approach to reinvesting private capital are recognised.”

The £13.5m deal sees Onward add to its 35,000-property portfolio. The sale forms part of Auxesia’s strategic business plan to sell on stabilised assets to long-term registered providers and recycle the profits for additional acquisitions.

Last year, Auxesia sold 89 homes to Weaver Vale Housing Trust in a similar deal.

“Our business model enables a self-sustaining cycle that helps meet housing need quickly and efficiently,” Donnelly added.

“Deals like this are instrumental in allowing us to reinvest in communities, support our developer partners, and help registered providers grow their portfolios with high-quality, income-generating stock.”

Bronwen Rapley, chief executive of Onward Homes, said: “We are delighted to welcome our new customers to Onward. Auxesia shares our commitment to providing quality homes in places that people can be proud of.

“Bringing these new homes into Onward will enable us to continue to boost the choice and supply of much-needed affordable housing across our communities, helping more people to find a place to call home.

“The transfer has been carefully planned to ensure it is as smooth as possible and we look forward to getting out in our communities and meeting new customers in the coming weeks.”

Anthony Collins Solicitors and ARK Consultancy advised Auxesia on the deal.