Proposal for King Street Housing to join the Aldwyck Housing Group
Thursday 19th October 2017
Aldwyck Housing Group and King Street Housing Society have entered into talks for King Street to join the Aldwyck Group.
Both organisations share an ambition to build more new homes in Cambridgeshire over the next five years and believe there is additional value to be gained by bringing the two organisations together.
Ian McDermott, Group Chief Executive at Aldwyck Housing Group said “Aldwyck has ambitious plans to grow. We are committed to building more new homes to meet the needs of local communities across our areas of operation. By joining forces with King Street we will be well placed to influence the strategic conversation about housing provision in Cambridge and I am delighted that we have started the process of them joining the Group”
Craig Glasper, Chief Executive at King Street Housing Society said “The need for affordable housing in Cambridgeshire has never been greater. Joining Aldwyck Housing Group gives us the ability to have a stronger voice in the region. We share common aims and values to build quality homes and deliver excellent services to our customers”
Your questions answered:
Who are Aldwyck Housing Group?
Established in Harpenden in 1968, Aldwyck Housing Group has a long track record of delivering affordable homes to rent or buy and providing supported housing services to customers in communities across the south east and east of England.
They provide over 11,000 homes and management services for around 25,000 people in a variety of tenures, from rented and part-owned homes to owner-occupiers.
Aldwyck offer specialist support and accommodation for young people, those with disabilities and older people. They also build properties for market sale and are the Government appointed Help to Buy agents for London.
Aldwyck has Customer Service Excellence accreditation and Investors in People Silver, and you can find out more about them by visiting their website www.aldwyck.co.uk
Why are we considering joining Aldwyck Housing Group?
Our rent income has been cut for a four year period whilst changes in the housing market have led to some of our other streams of income beginning to dry up. This loss of revenue makes it harder for us to provide the levels of service expected and has restricted the amount of work we have been able to do in the supply of new housing to this area.
We want to provide the best possible services to you whilst helping provide new affordable housing for those in housing need.
We believe that by joining with Aldwyck Housing Group we can:
• improve and expand services to you and ensure they offer value for money
• release more funding for much needed housing in Cambridgeshire
• have a stronger voice in the region to create new opportunities for homes and communities
• attract and retain quality staff
• increase financial strength and make efficiency savings
King Street and Aldwyck are long established organisations and share the ambition to be providers of quality housing and services.
Aldwyck has a small presence in Cambridgeshire and wants to expand upon this and invest in new homes in the area.
There is a good geographical fit which will see King Street taking on the management of a further 200 homes in the area and being the management organisation for any new properties in the area.
Representatives from the Boards of both King Street and Aldwyck are meeting on a regular basis to consider the future of operations in Cambridge once King Street join the Group.
Aldwyck has a wholly-owned subsidiary that delivers repair and maintenance services called Connect Property Services. Connect will provide the repairs to your homes, which we expect will improve the service you receive.
Will my tenancy or rights change?
No. Your tenancy and security of tenure will not change.
Will my rent or service charges change?
No. Your rents will continue to follow the Government rent setting rules. Your service charges are set on actual costs and will not change as part of this merger. Service charges will continue to be reviewed annually and efficiency savings may be possible as part of a larger organisation.
Will I get the same services as before?
All of our current services will continue as normal, we will, however, be seeking to expand and improve our range of services to you.
Will there still be a King Street Office in Cambridge?
Yes. We are committed to providing front line services locally and have no plans to close the current office.
Will staff stay the same, such as my Caretaker or Neighbourhood Officer?
We want to retain knowledge and experience so we don’t expect to see any immediate changes. However, things do change and staff leave or take on new roles so we cannot guarantee that staff will remain the same, this is true even if a merger didn’t happen.
Will your contact details change?
No. Our current details will remain and we don’t plan to change them in the immediate future.
Will you keep us informed if the merger goes ahead?
Yes. We will keep you informed via newsletters, social media, our website and in some circumstances by writing directly to you.
We will respond directly to any questions raised and will publish details in our newsletter.
How will any money saved be spent?
Any savings made will be invested in improving services and developing new homes.
What happens next?
King Street and Aldwyck are putting together a detailed document that spells out why we are proposing to do this and how it will benefit our residents and the wider communities. We are also looking at the legal, financial and governance arrangements for the merger.
These documents, along with your feedback, will be considered by our Boards who will make the final decision on whether or not to proceed with the merger.
If the merger is agreed we expect it to go live from April 2018.
Have your say
Your views are really important to us, and we want to know what you think of the proposal. If you have any questions or concerns email us at email@example.com, by 6th November 2017.
We will respond to any questions asked and we will publish a summary of any issues raised.
Find out more about Aldwyck Housing group at https://www.aldwyck.co.uk/