The boards of The Riverside Group and One Housing Group have revealed they are entering into “partnership” discussions that could see One Housing becoming a subsidiary of Riverside.
Last week, the boards of the two housing associations agreed an outline business case for the partnership, paving the way for more detailed discussions, further due diligence and negotiations with lenders.
The two organisations have said consultation will take place with customers, colleagues, and key stakeholders as the plans are developed.
They have also said that residents will be involved in shaping future plans for engagement, once the two associations have merged.
A target date has been set for One Housing to join Riverside by the end of the year.
‘Strong values and a clear purpose’
Terrie Alafat CBE, chair of Riverside, said: “One Housing and Riverside are both major providers of social and affordable housing, with homes across the country.
“We have a lot in common, based on our strong values and a clear social purpose.
“This includes a deep commitment to delivering vital care and support services for elderly customers, those who are at risk of becoming homeless, and people who are mentally ill or have learning disabilities.
“There has never been a greater need for our homes and services, but we operate in an environment which is getting tougher, as the challenges faced by our customers intensify and standards rise – especially those relating to building safety and carbon reduction.
“This has led us to discuss how together, through a bigger and stronger group we can deliver more for residents, customers and communities.”
Caroline Corby, chair of One Housing Group, added: “Delivering more is all about having the capacity to build more quality homes, deliver estate regeneration, be an excellent landlord, provide excellent care and support services and extend home ownership opportunities.
“That is our shared ambition and something we believe we can achieve by pooling our strengths and resources in this way.
“Our geography is complementary and there is a real opportunity for us to become a sector-leading national organisation with the scale and span enabling us to influence even more, both nationally and regionally, whilst maintaining a focus on delivering great services locally.”
Subsidiary plans
Under the draft proposals, One Housing would initially become a subsidiary of The Riverside Group, with a view to further integration as systems and processes are aligned.
Both organisations confirmed that there would be no impact on rents or tenancy rights, and during this period no change of landlord for either One Housing or Riverside tenants.
Riverside is one of the UK’s largest social housing and regeneration organisations, owning or managing around 58,300 homes from Irvine to Kent.
One Housing manages over 17,000 homes, with plans to build 5,000 over the next 10 years.
Image: kan_chana/Shutterstock
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