Just a few weeks after we formed Karbon Homes, we’re excited to announce that our chief executive Paul Fiddaman has started talks with another housing association about potentially joining our group.
York Housing Association (YHA), which manages 943 homes, is interested in becoming a ‘wholly owned subsidiary’ of Karbon Homes.
We believe this potential arrangement is a very good strategic fit that will enable us to build more homes and have greater combined impact across a wider geographical area.
The talks are still at a fairly early stage, and no decisions have been made. We will develop a business case, and if this is positive, we would make very rigorous checks from a legal and business perspective to decide about moving forward.
We expect the process will take up to 12 months to complete so the earliest we expect YHA to join the new Group will be early in 2018.
This is an incredibly positive opportunity. From our very early discussions with YHA so far, it is clear that we have much to gain from the partnership to support our ambitions to grow the business.
We will be looking to invest in the Yorkshire and Humber area, enabling the development of an additional 50 to 100 new homes per year – which YHA will help to develop and manage.
This provides us with an exciting opportunity for continued growth and expansion in a way that we could not achieve without joining forces with another partner.
In return, YHA are keen to benefit from access to a wider range of services. Accessing our services provides them with a better value for money option than buying in these skills externally, which means they can invest more in building new homes.
Day-to-day housing and support services to residents will continue to be delivered from YHA’s existing offices and by YHA’s existing staff.
We will be keeping you informed of any developments via our website and in future issues of our magazine.