"Actively seek partnership opportunities with other smaller rural housing associations"
Over the past year, we have successfully integrated The Cambridgeshire Cottage Housing Society (TCCHS) as a subsidiary into the Group. Given the unique nature of the TCCHS housing stock, including historic listed buildings, the Board agreed this was the most prudent course. TCCHS has embarked on its own Business Strategy, in line with the Group's ambitions, which involves the disposal of older listed properties no longer suitable for affordable homes and reinvestment in modern homes better suited to residents' needs. The success of this approach, aided by a partnership with the Cambridgeshire Rural Community Council and the county Rural Housing Enabler, adds significant value to the Group, local communities, and our residents.
While TCCHS was merging into the Group, we also saw the New Forrest Villages Housing Association (NFVHA) and Gloucestershire Rural Housing Association (GRHA) undergo separate transfers. NFVHA, a subsidiary since 2020, made the decision to fully integrate into English Rural in the final quarter of the year. The more complex transfer of GRHA, who chose English Rural due to our aligned values and rural focus, completed shortly after the year-end.
Despite the relatively small scale of each merger and transfer, each required a significant investment of staff time and meticulous decision making from the Board. To manage the details of these activities, the Board established Task & Finish Panels. While the growth secured through these activities enhances our core business and finances, aligns with our strategic purpose, and promotes efficiencies, embedding this growth into our processes, systems and culture will take time. Hence, the coming year will be a period of consolidation.
The rationale behind each merger and transfer was not only to strengthen our core business and underlying finances, but also to preserve the legacy of these smaller rural associations that might otherwise fail to deliver their purpose or be absorbed by a partner with a differing culture, mission and values. The benefit of quality service provision and access to our skilled team also extends to the residents of the transferring organisations.
Additionally, English Rural continues to support other rural housing associations through formal service partnerships or by responding to ad-hoc requests for advice or mentorship.
The integration of smaller housing associations into our Group has demonstrated our ability to adapt and enhance our services. By combining our strengths, we've been able to bring more value to our residents while setting a strategic course that aligns with our larger ambitions.
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One of our affordable homes in rural Cambridgeshire.
>> The amount of staff time required to manage multiple transfer and merger opportunities is easily underestimated, especially in the post-event phase where operational demands peak. To effectively manage these opportunities, we have learned the importance of proactive staffing capacity planning prior to any merger or transfer.
>> Mergers and transfers can introduce various challenges and opportunities, potentially necessitating new skills and training for our team. Deciding whether to develop these within existing roles or recruit new staff should be a key consideration during the early stages of decision making.
