Genesis to sell homes and restructure
Genesis Housing Group will sell around 800 homes and operate in a smaller geographical area as part of an overhaul which it says will improve services for residents.
The group, which owns or manages 40,000 homes, will amalgamate its subsidiaries - PCHA, Pathmeads and Springboard housing associations - into one association, in order to simplify decision-making.
It will reduce the number of local authorities it provides homes in, to focus more on its core area of London, Hertfordshire, and Essex.
The process is expected to take two to three years.
A spokesperson for the group said it would consult with residents before any changes were made.
She said: ‘We are proposing new governance arrangements which will mean setting up new regional committees made up of customers and a new customer scrutiny panel which will hold the board and executive to account for service delivery.’
Genesis Community, also owned by the group, will remain as a stand-alone charity providing employment, enterprise and volunteer programmes.
The group hopes to avoid redundancies during the overhaul.
The latest rationalisation follows the news last month that Home Group will sell 6,000 homes, more than 10 per cent of its stock, in the biggest rationalisation deal ever seen.
This dwarfed the previous largest sell-off, 1,800 homes by Servite (now Viridian) in October last year.
