Birmingham City Council’s contracted social lettings agency acquired in £20m deal

OMEGA Group, which recently won a five year contract to become the social lettings agency for Birmingham City Council, has been bought by support services group Mears for £20m.

London-based Omega is a private sector provider of residential lettings and management services to the social housing market, with a portfolio of circa 1,700 properties and a client base of 24 local authorities and housing associations

Gloucester-based Mears provides support services group to the social housing and care sectors in the UK.

Most of Omega’s customers are based in London but it also runs the property agency Let-to-Birmingham.
 
Prior to its acquisition by Mears, Omega was owned and operated by members of the Antoniou family.  The management team will remain with the business.

Mears said the acquisition is in line with its strategic aim to continue growing in the evolving social housing market.

It said the acquisition will enhance its ability to work more widely with housing providers to improve the delivery of housing and property management services and to increase the supply and management of housing.

David Miles, chief executive of Mears, said:  “The shortage of safe and secure housing is a significant challenge faced by Mears’ clients today.

“I anticipate local authorities having increased responsibility to provide more social homes and remove the reliance upon those private landlords who provide properties which are not of a uniformly high standard.

“This acquisition is a logical extension to the services provided within our social housing division and will enhance our ability to work with housing providers to improve the delivery of housing and property management services.”