Post by Sarah Williams

Big news from L&Q this afternoon as it completes the much-anticipated sale of its private rented sector business for just over £1bn. The buyers are a fund managed by the investment arm of financial services company Morgan Stanley in partnership with London-based investment firm Ridgeback Group. The disposal forms part of L&Q’s long-term strategy aimed at “simplifying” its operations to focus on social housing. CEO Fiona Fletcher Smith says: “This sale further strengthens our financial resilience, supporting our long-term drive to invest in new and existing homes across Greater London and Greater Manchester.” Link to story below from James W. in Social Housing - the sector's go-to financial publication, here: https://lnkd.in/eVJNepsd #SocialHousing #HousingFinance #PRS #PrivateRentedSector #Living