£13m Government grant helps Bloor offload 335 unsold homes

House builder Bloor has offloaded 335 unsold homes to housing association Sanctuary Group - helped by a government grant of £13m.

The house builder is the first firm to sell off unsold stock under the government’s new National Clearing House, set up to transform unsold stock into affordable housing.

The 335 homes, located on 19 sites across the country, will now be available mainly for social rent.

The deal was struck in conjunction with Sanctuary Group and the Housing Corporation.

The Government said more than 2,000 unsold homes had been bought up using the £200m pot of money earmarked for the scheme.

Housing minister Margaret Beckett said: “This deal will help deliver much needed affordable homes whilst also supporting house builders facing difficult times.”