Restormel Housing Trust is launching a private company, Ocean Housing Group, which will invest up to £120m in developments during the next four years.
The group will focus on building and managing accommodation for key workers. The firm plans to build nine nurseries, costing £900,000 each, under the government’s Neighbourhood Nurseries Scheme. Work will start on site on the first of these within the next two months.

The group will also expand a consultancy business and repair service for private clients. Restormel already provides consultancy services to local authorities in South Wales.

Restormel, which manages 3455 formerly council-owned homes in Cornwall, will continue its activities as a non-profit-making social landlord under the new name of Ocean Housing.

Chief executive David Renwick said the rebranding would allow the trust to reduce its reliance on rent to pay for future repairs and improvements to tenants’ homes.

It would also allow the company to build on its work in other regions, he said.

Source

Housing Today