Further swaps are planned between Community 7 and CDS, which is leading regeneration in the Dingle area.
Six other Merseyside associations have agreed in principle to the model for freehold swaps. This could open the door to rationalisation being promoted by the Housing Corporation, which is concerned at the plethora of competing landlords in some cities.
C7 has nine local residents on its board of 12. It hopes to gain corporation registration in the summer, and will take on almost 1,000 Riverside homes in Kensington and could also gain 300 council homes in a planned transfer. The stock swaps should leave it as the area’s only social landlord.
All the homes involved were built before 1988 and carry no debt. Where loans have been secured on them, the security is being transferred to other stock in the associations’ portfolio.
Valuations have established prices for archetypal properties in each area, with deductions for the broad state of repair. Homes from this pool of properties can be swapped according to the total value, rather than exact numbers.
The swaps will be the start of a major housing market restructure in Kensington, with the new association buying private homes to aid site assembly for redevelopment.
C7 director Steve Robinson said Liverpool council had played a crucial role in asking particular associations to take the lead in certain parts of the city. That gave them the incentive and clarity to begin rationalising stock.
He added: “It’s about community confidence. Residents thought associations were the problem, but this puts them in charge and will help to broker future difficult demolition decisions.”
Corporation assistant director leading regulation John McHale said: “The swaps will aid neighbourhood management by achieving a single landlord instead of 11 associations pulling in different directions. That should give tenants a better deal.”
Source
Housing Today
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