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Gloucester Gets Go Ahead for Stock Transfer

23rd April 2014

The government has given the go-ahead to allow Gloucester City Council to ballot its tenants regarding the transfer the ownership of the council’s housing stock to Gloucester City Homes.

Currently, Gloucester’s social homes are owned by the council and managed by Gloucester City Homes. Under the terms of the proposed deal, Gloucester City Council would transfer ownership of its 4,800 homes so that they belong to Gloucester City Homes outright. As part of the deal the government will also extinguish  £50 million of the council’s historic housing debt.

The transfer will enable Gloucester City Homes to invest in future refurbishments and repairs of the homes and estates – and build the first new social homes in Gloucester for 25 years.

Capita, acting as lead consultant, advised both the council and Gloucester City Homes and will continue to advise both parties on the housing transfer process which is due to be completed by 31 March 2015.

Capita is also providing IT, HR and funding advice to Gloucester City Homes.

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