With ongoing pressure on Registered Providers to rationalise stock as part of their asset management strategy, it is important to ensure that all opportunities to maximise the assets you have are being explored. Has your stock rationalisation been taken as far as it can, and has it focused on all elements of the business?
The key is to look at your housing stock and consider a number of key questions. The discipline of a rationalisation review may bring to light options which you may not have previously considered. When reviewing housing stock, have you considered:
Location and demand:
Your core operational areas:
You may be surprised at how large your portfolio of offices, shops and community centres is. Have you done any analysis of income, costs of keeping these assets and what might be alternative options?
There will be tough questions such as:
All or some of these may be controversial as they may lead to new working practices or perceived changes in your connection with the community. However, if your analysis shows a clear business reason then engagement with staff and the community will form a key plank in your consultation programme.
An early review of your plans with your lawyers is advisable to ensure that any rationalisation programme does not breach your constitution or any regulatory requirements.
You should also consider the terms of any section 106 agreements and the conditions of your loan agreements to ensure compliance and correct procedures are followed. Again an early legal review is advisable.
If you would like to discuss the options available to you please do get in touch with your usual contact at TLT or contact Paul Butterworth on +44 (0)333 006 0284 or paul.butterworth@TLTsolicitors.com
This publication is intended for general guidance and represents our understanding of the relevant law and practice as at October 2015. Specific advice should be sought for specific cases. For more information see our terms & conditions on www.TLTsolicitors.com