Newspaper article The Journal (Newcastle, England)

Tenants Vote Yes to Switch

Newspaper article The Journal (Newcastle, England)

Tenants Vote Yes to Switch

Article excerpt

Thousands of people in Northumberland are to see their homes switched to a new landlord in a major property transfer deal ( 13 years after the move was first proposed.

Tenants in Castle Morpeth have delivered a massive Yes vote on whether to transfer the borough's 2,300 council houses and flats to a new, not-for-profit housing association.

A postal ballot resulted in 87.4% of tenants giving their approval to the switch, believed to be the country's biggest-ever Yes vote on a Large Scale Voluntary Transfer (LSVT).

Tenants will see the management of their homes taken over by Castle Morpeth Housing ( part of the Isos Housing Group ( in a move predicted to lever in pounds 120m over 30 years to improve and modernise the properties.

In 1993, Castle Morpeth Council was set to become the first local authority in the region to sell off its entire housing stock to a private landlord.

However, weeks before a tenants' ballot, councillors pulled the plug on the move because of a pounds 5m shortfall in the value of the proposed deal. …

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