Borough with Highest Proportion of Owned / Occupied Properties Furnished by Drum Intermediate Rents

Drum Housing Association celebrated the opening of Athena Court, a brand new apartment block in Fareham, Hampshire, with a champagne reception last week. The nineteen modern 1 and 2 bedroom apartments are to be let on an intermediate rent basis for local people who would otherwise have been unable to rent privately in the area, contributing towards the Local Authoritys objective to achieve a ґBalanced Housing Market.

As 86% of the Borough bears owned occupied properties, is a much higher proportion than both the county and the national averages, the pressure on Fareham Borough Council is higher than for most. In comparison, the proportion rented from the Council and from Housing Associations (5.7% and 2.0% respectively) is much lower.  Private sector rented housing accounts for only 3.7%, the lowest in Hampshire.

As a result, one of the key challenges facing the Borough is their attempt to establish more of a balanced housing market for local people to enable them to have more choice over the type and tenure of housing to meet their own housing needs.

The scheme, to be occupied by households put forward by Fareham Borough Council, and through the private rental sector, are to be let on an intermediate basis at 80% of the standard rental levels in Fareham.

Drum, who have recently become part of the Radian Group (comprising Swaythling and Windsor housing associations), managed to purchase these homes with an innovative funding scheme, which allowed for the purchase from developers Crayfern. Councillor Sean Woodward, who was present to meet with residents and welcomed them to their new homes, congratulated Drum on this pioneering scheme achieved with no public subsidy either from the Housing Corporation or from Fareham Borough Council.

"This scheme is an example of the Borough Council looking to support a new approach to help local people get a good quality home for rent," explained Councillor Woodward, "New tenants will have security of tenure and will not have to face the uncertainty of living in the private rented sector where the landlord could serve notice after 6 months. With Drum managing the properties for the longer term, as long as tenants meet their tenancy agreement, they will be able to live here as long as they choose."

Sandra Theckston, Director of Drum explains: "We are delighted to have been able to provide some intermediate rent in an area where such a high rate of home ownership has a marked impact on affordable rental opportunities."

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Photographs

Councillor Sean Woodward (right) from Fareham Borough Council meets Terry Moody, a new resident of Athena Cour

Athena Court, in Fareham, Hampshire

Notes for the Editor

Drum Housing Association is a social landlord registered with the Housing Corporation (a Government agency responsible for the regulation of housing associations) and is a not-for-profit social organisation.  Drum is part of the Radian Group, who provides affordable housing across six counties in the South of England.

For further information please contact Maria Garside, Public Relations Manager on 01730 403080 or 07748 113364, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Drum Housing Association, Drum Court, The Spain, Petersfield, Hampshire, GU32 3NG

rother.radian.co.uk