We became a homeowner in our own right last month, following the acquisition of 19 properties from the council’s private housing company, WV Living.
We manage around 22,000 council homes across the city, and on 16 October 2020, we became the owner of the 19 properties which are located across three housing developments on Danesmore Pastures in Wednesfield, Sweet Briary in Ettingshall, and Peascroft in Bilston.
The properties, which are comprised of houses and flats, are now being let and are estimated to generate around £130,000 a year in revenue, equating to £1.3 million over 10 years. We are a not-for-profit organisation wholly owned by the City of Wolverhampton Council, and we have plans to reinvest the income generated from this new venture into boosting housing services and community initiatives.
Angela Davies, tenant and Chair of Wolverhampton Homes said:
This is a fantastic business venture for Wolverhampton Homes. We’ve listened carefully to the feedback received during our recent customer survey and the income from these homes will help us to put our plans into action. I’m excited to see what opportunities it will bring over the coming years.
Rebecca Freeman, Wolverhampton Homes tenant based at Peascroft, said:
I’m still settling into our new home, but in the short time I’ve been here, I’ve received a great service from Wolverhampton Homes. Having experienced problems in previous tenancies with other landlords, it feels good to finally have somewhere I can call home and be proud of.
I was pleased to hear that Wolverhampton Homes have now taken on ownership of the properties as I understand this will be good for housing services in the city.
Councillor Jacqueline Sweetman, Cabinet Member for City Assets and Housing said:
The Covid-19 pandemic has hit us all hard. Despite this, we are committed in Wolverhampton – more than ever as a City – to create opportunities, help boost public services and support our courageous communities.
I’m so pleased that Wolverhampton Homes has taken the next step on its journey as a social housing provider, and I look forward to seeing the benefits this new business venture will no doubt yield.
- Last Updated: Thursday, 05 November 2020 16:28
- Published: Thursday, 05 November 2020 11:38