Two of the South West’s largest housing providers have completed the exchange of around 1,400 properties in Somerset and Wiltshire, one of the largest ever stock swaps in the social housing sector, in an effort to deliver a more efficient local service to residents.
Under the swap deal, Sovereign Housing Association will take on the ownership and management of 758 homes from Knightstone in the Swindon and wider Wiltshire area, while Knightstone Housing Association will take ownership and management of 677 homes in Somerset from Sovereign.
Confirmation of the stock swap follows a detailed six-week consultation with the residents affected by the transfer.
“Having consulted residents in Wiltshire and Somerset, we are very pleased that they have understood the rationale for this move. They have welcomed the fact that it will result in a more responsive and cost-effective local service for customers,” said Heather Bowman, Sovereign’s Housing and Communities Director.
“This is one of the largest ever stock swaps in our sector, and it makes sense in the current economic climate. It allows both businesses to consolidate in areas where they already have a significant presence and deliver efficiencies, which will enable us to re-invest in services and provide more high-quality affordable homes.”
Knightstone, based in Weston-super-mare, is one of the largest registered social landlords in Somerset and the West of England, while Sovereign, which has a regional office in Swindon, already has a significant number of homes and a very active development programme in Wiltshire.
For Knightstone, this move is an important part of their ‘Take on The Future’ transformation plan which includes concentrating services across nine local authorities.
Nick Horne, Knightstone’s Chief Executive, said: “These home swaps are part of a package of bold changes that will transform what we do, how we do it and where we do it. By responding proactively to customer priorities, government changes to housing policy, rents, tenures and welfare benefits and the current economic climate, we’re making sure we’re doing the right thing for our business, residents, staff and partners in the years ahead.
“Knightstone and Sovereign share a passion for providing excellent customer service and we have assured residents in both areas that this will continue.
“Part of our plan is to invest more in supporting neighbourhoods so they are places people continue to want to live and this first stock swap will help us achieve just that.”
Notes to Editors
- Sovereign Housing Association is a charitable body. It comprises Sovereign South+West, Sovereign Twynham, Sovereign Kingfisher and Sovereign Vale, which were merged into a single legal entity in October 2011. Sovereign Housing Association includes the non-charitable Sovereign Living Limited. Sovereign is one of the largest providers of affordable housing in the south and south-west of England. It owns or manages more than 33,000 properties, offering a variety of tenures.
- Knightstone Housing Association currently owns and manages 11,000 homes across 37 local authorities. Within three years the association expects to be managing over 10,000 homes in the nine West of England and Somerset local authority areas.
- If you would like more information, please contact Roy Probert, Public Relations Manager for Sovereign, on 01635 277406 or 07827 356479, or email roy.probert@sovereign.org.uk.
- For more information from Knightstone Housing, please contact Martin Powell or Laurence Phillips at Empica on (01275) 394400.
