We have completed the final phase of a major strategic initiative to exit from our market rent portfolio, generating over £20 million in income and reaffirming our commitment to social housing.
The market rent portfolio consisted of homes let at full market rates, rather than at social or affordable rents. These homes were identified as non-core to our business in the 2023–2027 strategy. Exiting this portfolio enables us to focus on our core purpose: helping customers to thrive through safe, secure and affordable housing.
The market rent disposal project was delivered in three carefully structured phases to manage risk and complexity. The final phase, completed in July, involved some of the most challenging elements - including legacy tenancy issues, legal restrictions, and over 600 legal enquiries.
“This move reflects our unwavering focus on what we’re great at,” said Jonathan Cooper, Strategic Property Planning Manager. “By exiting market rent, we’re sharpening our focus on social housing and ensuring we deliver the best possible outcomes for our customers. I’m incredibly proud of the hard work and resilience shown by Jo Fellows, Project Manager, and the SPP team in delivering such a complex and high-impact project.”
Neighbourhood coaches supported customers throughout the process, with regular correspondence and consultation to ensure transparency and give customers the opportunity to ask questions. While a small number of properties will be retained temporarily due to legal constraints, plans are in place to either dispose of or convert these units to social housing when they become void.
The £20 million generated from this project will be reinvested into the management, maintenance and improvement of Bromford’s homes, supporting long-term sustainability and social impact.
The success of this project reflects a broader sector shift towards simplifying portfolios and focusing on long-term impact. Our approach of combining strong governance, ethical customer handling, and cross-team collaboration - shows how housing associations can make confident, values-led decisions that strengthen their core purpose.