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A non-compliant Merseyside housing association has undergone a major group restructure.
As part of the changes, 14,000-home landlord Knowsley Housing Trust (KHT) has rebranded as Livv Housing Group.
The restructure sees KHT’s former unregistered parent, First Ark, scrapped as the group shrinks from seven entities to four.
KHT was hit with a G3 grading for governance by the Regulator of Social Housing (RSH) in August 2018 following major safety failings – indicating “issues of serious regulatory concern”.
The regulator has since voiced scepticism about group structures involving parent entities not registered as social landlords.
KHT was the first housing association to set up an unregistered parent company in 2010.
Another social landlord with an unregistered parent – North Lincolnshire-based Ongo – also has a G3 regulatory grading. Another, 24,000-home ForHousing, was downgraded to G2 last May – indicating compliance with RSH standards but a need to improve governance.
Livv has launched a new corporate plan with ambitions to spend £116m on improving its existing homes over the next five years.
It also wants to build 300 homes a year by 2022/23 and has set a new lettings standard.
The landlord said the new simplified structure will enable more efficient decision-making and streamline services for residents.
It remains a community benefit society, having registered with the Financial Conduct Authority in 2018 while under investigation by the RSH.
Léann Hearne, chief executive of Livv Housing Group, said: “The restructure and rebrand puts customers and communities at the core of the business and at the forefront of all our operations, underpinned by a new three-year corporate plan.
“The strategy is about the future: forging opportunities for happy, healthy lives and safe, friendly neighbourhoods.
“It’s exciting times – after 10 years as First Ark Group, we are embarking on the next stage of our evolution as we become business-ready for the next decade and beyond, ever committed to making a positive impact and creating flourishing communities.”
KHT was formed through a stock transfer from Knowsley Council in 2002 and became part of First Ark in 2010.
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