Market Leads & Opportunities
Housing association outlines £417m investment plan
Sunderland-based housing association Gentoo Group is to invest £417m to help bringing 1,100 rented properties and new homes for sale to the market over the next five years.The group’s business plan for 2019 to 2024 features a £300m investment package for its existing housing stock, including £22m to fit double glazing on more than 9,000 properties, £38m for fire risk works, and £110m on maintenance and repairs.A further £117m will be spent on providing 900 more homes for affordable rent in new build and existing developments.Its commercial arm, Gentoo Homes, will build in excess of 200 new homes each year, generating an annual profit of approximately £4m to subsidise the group’s plans.
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