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Simplification of Peabody Group structure
We have set out our intention to simplify the governance structure of the Peabody Group, so that we have fewer legal entities.
This will create a structure that helps us to build more homes across London, to invest more in community programmes in Thamesmead and Waltham Forest, and gives the Peabody Board direct oversight of our core activities. One part of this is a proposal to integrate our social landlords – CBHA, Gallions Housing Association and Peabody – into one organisation.
During November and early December 2015, residents were consulted on our proposal to formally amalgamate landlords before a final decision was made. The consultation closed on Monday 7 December 2015.
Consultation and progress
In April 2016 we wrote to all residents, updating them about the results of the consultation (you can find more information here). The boards of CBHA, Gallions Housing Association and Peabody considered all the feedback, along with other factors. We believe that, on balance, the merger is in the best interests of each organisation as well as current, and future, residents. The Charity Commission supports our wider proposals and gave its consent for us to take the first steps in the merger.
We have published a booklet which covers our proposal in more detail – you can download the booklet here (pdf, 4mb).
The first step to changing our Group structure was to change Peabody's legal structure to a Community Benefit Society, the most common type of housing association today. This happened on 9 November 2016. We will continue to be known as Peabody. We are still a charity and our mission and purpose remains the same. We are regulated by the Homes and Communities Agency and the Financial Conduct Authority.
If you are a Peabody tenant, the new Peabody will automatically become your landlord. It won’t make a difference to your tenancy, lease or freehold transfer documents, or the way in which your rent or service charge is set. We will be writing to all Peabody tenants to formally notify them of these changes.
We have already made lots of progress in integrating many Gallions employees into Peabody since they joined the Peabody Group in 2014. We’re looking forward to delivering an exciting programme of regeneration in Thamesmead.
We are also investing in other areas where Gallions has stock as part of our mission to ensure as many people as possible have a good home, a real sense of purpose, and a strong feeling of belonging.
CBHA has been part of the Peabody Group since it was first established in 1996 and provides housing and related services to residents in Waltham Forest. In March 2015 we wrote to all CBHA residents setting out our proposals (pdf, 506kb) for integration.
We pledged to protect frontline services and increase investment in Waltham Forest. We would keep local offices and retain the services of Peabody Group Maintenance (another Peabody subsidiary) as the local repairs service provider. We would build more homes in Waltham Forest, double the community investment budget to £800,000 a year, and set up a range of resident groups and panels to ensure decisions continue to be made locally. Read more about our offer to CBHA residents (pdf, 1mb).
In July 2015 we appointed a new Chair of the CBHA Board, together with new board members, to oversee the next steps. We’ve written to all CBHA residents (pdf, 58kb) to keep them updated. These changes do not affect residents’ tenancies or leases in any way.