West of Scotland Housing Association Ends Partnership with Gentoo Group
FCA registered new rules which legally ended partnership.
West of Scotland Housing Association (WSHA) has officially ended its partnership with Sunderland based housing association, the Gentoo Group. The Financial Conduct Authority (FCA) registered new rules for WSHA on 17 October 2017, which legally ended the partnership.
The FCA decision concluded a lengthy demerger process, which included approval from the Scottish Housing Regulator and a ballot of over 3,500 WSHA tenants. Forty-two percent of tenants voted in the ballot and, of those voting, 96.7%, voted in favour of ending the partnership.
As an independent housing association, WSHA will now have full control over its decision making and can improve how tenant views are used to shape services.
WSHA Chief Executive Officer Lynne Donnelly said:
“Over the 18 months, the Board of WSHA and the Gentoo Group Board have jointly reviewed the partnership and concluded that it was in the best interests of both organisations and our tenants to end the partnership.
“Initially, there were a number of positive benefits of partnering with a larger housing association but, since then, there has been significant change to the external operating environment which has impacted on the partnership.
“As an independent housing association, WSHA will be able to focus on all our communities and deliver a more localised service to tenants, including building 500 new affordable homes over next five years.”