The proposed transfer of homes from Antonine Housing Association to Caledonia Housing Association has been completed following approval by the Financial Conduct Authority.
Antonine’s tenants decisively approved the plans through a ballot during the summer, with 99 per cent of the votes cast in favour of the proposal, based on a turnout of 79 per cent. Shareholding Members of the Association also subsequently voted to approve the transfer at two Special General Meetings held in August.
The FCA’s approval was the final step required to bring the two organisations together following a year-long period of joint working to develop and consult on the plan.
The transfer of the 334 affordable rented homes involves Caledonia delivering faster and increased investment in tenants’ homes and implementing a five-year rent guarantee, while also continuing to deliver services locally.
These benefits will be combined with a strong focus on improving services and investigating opportunities to build new affordable homes for the many people in housing need in the local area.
Mags Lightbody, interim director at Antonine, said: “A great deal of hard work has been carried out by our management committee and staff team over the past two years to get us to this point and I would like to express my sincere thanks to them for this.
“I would also like to thank our tenants for the positive contribution that they made to the development of the transfer proposal, and for their active participation in the consultation and tenant ballot processes. This was vital in developing and agreeing a set of transfer promises that will deliver real long term benefits for existing and future tenants.”
Julie Cosgrove, Chief Executive at Caledonia, said that she is delighted that the process has concluded and welcomed Caledonia in joining the organisation’s team members, tenants and other customers.
She added: “The outcome of the recent tenant ballot that demonstrated clear and strong support from tenants for the transfer to Caledonia was very pleasing for us. We are at the point now where we can start to put the transfer arrangements in place and commence our work to deliver on the transfer commitments that we made to the tenants.”
As well as administering 334 homes, Antonine also provided factoring services to 700 home owners and currently deliver a Care and Repair Service on behalf of East Dunbartonshire Council.