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<\/a><\/p>\nHyde chief executive Andy Hulme said there were there are \u201clots of obvious benefits from working together\u201d (picture: Hyde)<\/p>\n
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A small London landlord currently being investigated by the English regulator is set to be taken on by giant provider Hyde Group #UKhousing <\/p>\n
Stratford-based Arhag Housing Association, which has nearly 1,000 homes, is consulting with its residents about the plans.<\/p>\n
Once the six-week consultation finishes, it is expected Arhag will join G15 landlord Hyde as a subsidiary through a transfer of engagements, the groups said today.<\/p>\n
However, Arhag said \u201cno final decisions\u201d have yet been made.<\/p>\n
Hyde already owns and manages around 120,000 homes. It grew significantly in 2024 after acquiring property management firm Pinnacle Group.<\/p>\n
A joint statement on the plans announced today said: \u201cLike many housing associations, the financial pressures of recent years mean Arhag needs the support of a strong partner in Hyde to continue delivering safe, decent homes and good quality services for its customers.\u201d<\/p>\n
Arhag \u2013 which stands for African Refugee Housing Action Group \u2013 was founded in 1979 as a campaigning organisation for the better treatment of migrants and refugees.<\/p>\n
Last month, it was placed on the Regulator of Social Housing\u2019s \u2018grading under review\u2019 list<\/a> over possible \u201cserious failings\u201d.\u00a0<\/p>\n In its last full-year update, the landlord posted a reduced surplus year-on-year of \u00a3370,000 on turnover of \u00a38.1m, as its costs rose.<\/p>\n Anne McLoughlin, Arhag\u2019s interim chief executive, said: \u201cThis proposal provides Arhag with stability and the opportunity to continue delivering our shared vision of a great home for everyone.\u201d<\/p>\n She added: \u201cWe want to hear from our residents about the proposals and no final decisions have been made.\u201d<\/p>\n Andy Hulme, Hyde\u2019s chief executive, said: \u201cWe think by welcoming Arhag\u202fand its customers into the group, we can improve homes and\u202fservices, and\u202foffer a\u202fstrong local presence in neighbourhoods.\u202f<\/p>\n \u201cWith many of the homes being in areas we already serve, there are\u202flots of obvious benefits from working together.\u201d<\/p>\n Hyde stressed that its current residents will see no impact on services or extra costs if the plans go ahead.<\/p>\n Last April Hyde took on another smaller London landlord<\/a>, Tower Hamlets Community Housing, which was non-compliant with the regulator\u2019s standards at the time of the transfer.<\/p>\n Hyde reported a near-tripling of it surplus in its last full-year after a boost in turnover from acquiring Pinnacle<\/a>.<\/p>\n Sign up to Inside Housing\u2019s Daily News bulletin<\/p>\n Sign up to\u00a0Inside Housing\u2019s Daily News bulletin, featuring the latest social housing news delivered to your inbox.<\/p>\n Click here to register<\/a> and receive the Daily News bulletin straight to your inbox.<\/p>\n And subscribe to Inside Housing\u00a0by clicking here<\/a>.<\/p>\n