Brent Housing Partnership has purchased 155 new homes in South Kilburn from Brent Council in one of the largest such transactions by an ALMO in the UK.
Before the purchase, BHP was responsible for managing properties on the councils behalf, but the sale makes it a direct landlord of tenants on the Granville New Homes estate, who will move in this week.
It should also help the regeneration of the South Kilburn estate. BHP will provide new homes for tenants to decant to when their present homes are demolished and replaced as part of the project.
BHP is also setting up a four year single operator framework for a joint venture partner to bid with them for housing development opportunities worth up to £100 million which will be mainly carried out in LB Brent.
BHP want a JV partner to fund the initial cost of the construction as well as design and build the new housing for BHP to purchase it on completion. BHP have set a deadline of August 28 for partners to apply for the framework.