Cluttons acted as valuer on behalf of MHS Homes Group on a portfolio of approximately 130 social rented housing units in 17 estates located throughout north Kent owned by Notting Hill Housing Trust which were available for sale on the open market. The valuation was prepared for internal management purposes with the possibility of MHS acquiring the portfolio.
The portfolio was divided into the two lots and comprised traditional and conventional constructed houses and flats built within the last 15 years let on assured tenancy agreements at social rents. The properties were restricted for social rented purposes and the valuation basis was Existing Use Value for Social Housing. We also provided a valuation on the potential benefit of the units having regard to the proposed affordable rents.
MHS Home Group requested the valuation to be completed within a five working day period and the housing association was successful in acquiring the larger portfolio.
The work was completed in a two week period.