Worthing Homes Ltd has taken control of 2,500 former council properties in the town after 18 months of consultation with tenants and staff.

The £35 million deal was able to take place after Worthing Council balloted its tenants.

Seventy-six per cent of them voted and 69 per cent were in favour of the transfer to a non-profit-making landlord.

The new independent company will be regulated by the Charity Commission and the Housing Corporation, the Government's housing agency.

Coun Sheila Player, chairman of Worthing's housing services, said: "This deal is good news for tenants and the borough's council tax payers alike.

"The new company will be able to maintain our existing stock to a higher standard than the council could have achieved under extremely tight Government restrictions on spending."

Eileen Holman, chairman of the Central Area Tenants' Association and vice-chairman of the board of Worthing Homes Ltd, said: "We are delighted the transfer has been completed, both for the council and for tenants, who can look forward to a confident future."

The board of the company includes tenant representatives, local business and community representatives and three councillors.

Fifty-four council staff have transferred to the new company, whose chief executive is Robin King, the council's former Worthing Homes manager.

Worthing Homes Ltd has pledged to provide up to 220 new homes to let at affordable rents over the next five years.

The company also promises to bring all its homes up to a high standard.

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