Stock and assets now transferred to £460m-turnover provider as 5,000-home association ceases to exist
Shepherds Bush Housing Association has now folded fully into Guinness Partnership.
The 5,000-home London provider’s full amalgamation has completed meaning it no longer exists as a corporate entity and its homes, staff and property have transferred to Guinness.
The move completes the two-stage merger process that began in December 2023 when SBHA joined Guinness as a subsidiary.
Prior to joining Guinness last year, SBHA was found non-compliant with the Regulator of Social Housing’s governance and financial viability standard.
In June 2022, the RSH published a report identifying weaknesses in the association’s risk management and internal control frameworks and business plan reporting. It awarded SBHA a ‘G3’ governance rating which meant it was non-compliant. The regulatory judgement was removed as a result of the merger.
Guinness reported turnover of nearly £460m in 2023/24 and completed 608 homes. It has revised its house building target for 2018 to 2025 down from 5,500 to 4,000 homes.
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