ELM Group, the property management firm headquartered in Frimley, has broadened its holdings within the UK retirement sector by acquiring 1,368 units from Orbit, a housing provider. The purchase increases ELM Group’s portfolio in the South of England to a total of 4,638 properties.

The portfolio addition consists of 1,178 retirement leasehold apartments, 168 houses and bungalows under the same tenure, and a selection of 17 general needs and shared ownership homes, along with five car parking spaces. ELM Group will manage and administer sales for these properties.

Following the contract exchange earlier this week, the properties are set to transfer in three stages to ensure a smooth handover for leaseholders involved.

Lorraine Collis, CEO of ELM Group, emphasized the expansion as a milestone for the company, marking the largest growth in its history. She stated the company’s readiness to overcome challenges, drawing on ELM’s foundation in the retirement housing sector to ensure a smooth transition from Orbit.

Paul Richards, Orbit’s group director for customer and communities, remarked on the completion of the transfer, recognising ELM Group’s expertise in retirement living. He suggested that the acquisition would provide lasting advantages for the residents and contribute to Orbit’s strategy for increasing density and achieving economies of scale across their property range.

The legal and advisory teams for the transaction included PDT Solicitors and Fairthorn Farrell Timms Surveyors for ELM Group, and Savills along with Anthony Collins Solicitors for Orbit.