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Scottish regulator proposes merger for troubled co-operative

The Scottish Housing Regulator is to consult with tenants of a troubled co-operative over proposals that it merge with another landlord.

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Picture: Getty
Picture: Getty
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Kincardine Housing Co-operative, which owns and manages 72 homes, was taken over by a regulator-imposed statutory manager in November.

A probe into the organisation found “serious and urgent risks to the delivery of services to tenants”, risks to its assets and concerns about “potentially inappropriate payments”.

It was restricted from making transactions and payments and Paul Green, the committee chair, was suspended.

In July, its management was taken over by 3,500-home association Grampian, which is acting as steward until a merger takes place.


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Christine Macleod, director of regulation, governance and performance at the Scottish Housing Regulator, said: “We’re consulting with Kincardine’s tenants about a proposed transfer of their homes to another [Registered Social Landlord].

“We will make sure tenants get independent expert advice about what a potential transfer to another well-run social landlord will mean for them.

“Our board will then take account of tenants’ views before making a final decision about whether or not to direct a transfer.

“In the meantime we will continue to intervene to support the management of services to tenants.”

The regulator will also appoint new members to the co-operative’s management committee to help oversee its acquisition.

Kincardine has been approached for comment via Grampian.