L&Q has announced plans to transfer 138 of its homes in Hertfordshire to a 10,000-home housing association.
L&Q has entered talks with Settle over the transfer, which would see the giant London-based landlord hand over 138 of its homes in Three Rivers, Watford and Dacorum, subject to a consultation.
It said the transfer would help L&Q to continue to invest in its existing stock and develop new homes, while also supporting Settle’s growth aspirations and allowing residents to receive services from a local organisation.
A consultation with residents over the Hertfordshire stock transfer is now under way and is expected to finish by late August 2021.
If the plans are approved the homes would be transferred later this year.
John Lumley, strategic director of assets and regeneration at L&Q, said: “As part of our commitment to delivering the homes that local residents need, we’ve identified an opportunity to work in close partnership with a fantastic housing provider in Hertfordshire.
“We’re proud of everything we’ve achieved in the area in recent years, and we’re confident that Settle will continue to provide an excellent service that residents can be proud of.
“Over the next few weeks, we’ll be working closely with the local community, to ensure that everyone has their say on the proposed changes.”
Gavin Cansfield, chief executive at Settle, said: “This is an exciting opportunity to take on these homes so close to the communities in which we already work at Settle.
“Working with residents, colleagues and partners, our focus at Settle is on developing good quality affordable homes, delivering services that respond to the needs of all customers and investing in neighbourhoods and communities.
“We are delighted to be working with L&Q on these proposals and look forward to meeting residents in Three Rivers, Watford and Dacorum over the coming weeks, to hearing their views and providing more information about the support we can provide through our work at Settle.”