State transferred £2.3m in property to Apex

FIFTY-FIVE houses transferred by the Northern Ireland housing Executive (NIHE) to the Apex housing Association were worth £2,334,306, the Housing Minister has revealed.

By The Newsroom

Published 29th Mar 2012, 16:37 BST

The homes at Rinmore in Creggan were transferred as part of a Multi-Element Improvement (MEI) pilot approved by the local community, tenants and the NIHE board.

Housing Minsiter Nelson McCausland recently claimed the transfer will save the public purse up to £2.5m.

Now the Minister has revealed the houses were worth almost the same figure when the transfer took place last year.

“The asset value of the 55 properties at Rinmore, Co Londonderry was £2,334,306 and the date of transfer to Apex Housing was 31 October 2011,” he stated in response to an Assembly Question.

Previously the Minister said Apex was undertaking improvement works from its own reserves and he estimated this scheme alone would save the public purse up to £2.5m.

Northern Ireland