Reidvale opens search for transfer of engagements partner

Reidvale opens search for transfer of engagements partner

Reidvale Housing Association has launched its search for a formal partnership through a transfer of engagements to a larger RSL.

The Association was registered as a social landlord in 1976 and operates in the Dennistoun area in the East End of Glasgow. It currently owns 897 properties and provides factoring services to over 232 private owners located in blocks where it has its own stock. Of the 897 properties, 42 are retirement homes in a complex (John Butterly House) which provide communal facilities, support staff, and a care alarm system. It also owns 9 commercial properties.

Reidvale has an annual turnover of circa £4m and has no outstanding loans. It employs 14 permanent staff, three temporary members of staff and uses external consultancy services to provide financial and Interim Director support.

Reidvale said it considers itself to be a community anchor in the area and places wider community regeneration as equally important to providing good quality homes and services. It remains committed to supporting community development to help its tenants and the wider community with help and opportunities and to making Reidvale a safe, secure and good place to live now and in the future.

The Scottish Housing Regulator (SHR) is engaging with Reidvale about its governance and financial management. SHRs current assessment is that Reidvale is working towards compliance with the Regulatory Standards of Governance and Financial Management. The current SHR engagement plan can be accessed here.

Whilst a range of improvement activity has been undertaken, a substantial improvement programme is still needed. Reidvale’s Management Committee as the governing body have decided that it wants more for its tenants and following an options appraisal, it has decided to seek a formal partnership with a larger RSL through a Transfer of Engagements.

A spokesperson said: “We believe with the right partner, a transfer of engagements should secure a much brighter future for our tenants, other customers, and staff team, particularly given the challenging economic environment.

“We now seek interest from well governed, high performing housing associations who can demonstrate that they have experience, credentials, and financial strength to deliver all that our tenants and wider community need and want for the future.”

For more information and to submit an interest, the full tender notice is available here.

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