Curo

Curo Group is a not-for-profit housing association based in Bath, England. Curo’s operating area is the West of England, with the majority of its homes located in Bath and North East Somerset where it is the largest housing provider.[1]

Areas of activity

Curo Group (Albion) Limited is the group holding company for:[2]

  • Curo Places Limited: a charitable company setup in 1999 following the transfer of housing stock from Bath and North East Somerset Council, which since 2015 has been a community benefit society;[3]
  • Curo Choice Limited: care and support functions;
  • Curo Enterprise Limited: established in 2012 for commercial activities including housing development, trading as Curo Homes;
  • Curo Market Rented Services Limited: manages market rented homes.

Curo manages about 13,000 homes mainly in Bath and Bristol, and had a turnover of £97.9 million and employed 438 full-time equivalent staff in the 2016-17 financial year.[4]

It is a housing association registered with the Homes and Communities Agency. Curo provides homes at low-cost social and affordable rents through local authorities’ choice-based lettings schemes, and for sale through shared ownership. Curo also provides homes at market rents and for sale on the open market, cross-subsidising its charitable activities.

Curo provides support services to older and vulnerable people, including people affected by homelessness and people with disabilities. In 2018 Curo’s Wellbeing House received the UK Housing Award for 'Outstanding approach to meeting specialist housing needs'.[5]

In 2013 Curo purchased a 48 acres (19 hectares) Ministry of Defence site, Foxhill in Combe Down, for £50 million, intending to build about 700 houses on the site.[6][7] Curo also wishes to demolish a neighbouring housing estate of 542 homes, which it about 80% owns, and replace it with about 700 new houses supported by the government’s Estate Regeneration Programme. This has proven controversial with residents, who raised over 250 objections to the plans.[8][9][10]

History

Prior to 2012, Curo traded as Somer Housing Group. Somer Housing Group's main housing association member was Somer Community Housing Trust, formed in 1999 with the transfer of Bath & North East Somerset Council's housing stock as part of a large-scale voluntary housing transfer.[11] The Group was joined in 2002 by Shape Housing Association and in 2005 by Redland Housing Association. Shape, formed in 1983 as Bath Self-Help, specialised in supported housing for people in the Bath area. Redland Housing was founded in 1973.[12]

Partnerships

Curo is represented on various local and regional groups including:

  • Homes for the South West[13]
  • West of England Housing Delivery Panel[14]
  • Bath & North East Somerset Public Service Board[15]
  • Bristol Housing Partnership[16]
  • Bath & North East Somerset Homelessness Partnership[17]

Finances

Curo Group recorded a turnover of £97.9m and an operating surplus of £22.2m in the 2016-17 financial year.[4] In 2013 the group secured £75m of funding with M&G Investments, £50m of which was to support its house building programme, with £25m for additional projects.[18]

Regulatory judgements

Currently (as of June 2017), Curo is assessed by its regulator the Homes and Communities Agency as having the highest (V1 and G1) ratings for governance and viability.[19]

The Properly Governed assessment was downgraded to G2 in 2016 due to a lack of assurance around the maintenance of clear roles and responsibilities for the board.[20] In August 2016 a new chair was appointed[21] and later the governance structure was changed.[2]

See also

References

  1. ↑ Homes and Communities Agency. "Statistical Data Return 2013." Retrieved on 29 Jan 2014.
  2. 1 2 HCA Regulatory Judgement on Curo Group (Albion) Limited - LH4336 (PDF) (Report). Homes and Communities Agency. June 2017. Retrieved 15 August 2018.
  3. ↑ "Mutuals Public Register - Society Name: Curo Places Limited". Financial Conduct Authority. Retrieved 20 February 2017.
  4. 1 2 Curo Group. "Financial Statements 2016/2017."
  5. ↑ "Curo's Wellbeing House wins national award recognition - Curo Group". www.curo-group.co.uk. Retrieved 2018-08-13.
  6. ↑ "Ministry of Defence site is knocked down for new estate". ITV News. 26 August 2014. Retrieved 6 August 2017.
  7. ↑ The Foxhill MOD site on Combe Down (PDF) (Report). B&NES Council. Retrieved 6 August 2017.
  8. ↑ "Residents anger at plans to demolish hundreds of homes". ITV News. 25 July 2017. Retrieved 6 August 2017.
  9. ↑ Turner, Alex (25 July 2017). "Consultant criticises association for 'misrepresenting' regeneration report". Inside Housing. Retrieved 6 August 2017.
  10. ↑ Cameron, Amanda (24 July 2017). "Foxhill residents 'disgusted' that Curo's plans for the social housing estate have been tipped for approval". Bath Chronicle. Retrieved 6 August 2017.
  11. ↑ Bath & North East Somerset Council. "Strategy and Performance."
  12. ↑ Curo. "Our Big Plan for the Future."
  13. ↑ "Homes for the South West of England". Homes for the South West. Retrieved 2018-08-13.
  14. ↑ West of England Partnership. "Guide to the West of England Housing Delivery Panel". Retrieved on 29 January 2014.
  15. ↑ Bath & North East Somerset Council. "Bath and North East Somerset Public Services Board."
  16. ↑ Bristol City Council. "Housing in Partnership." Retrieved on 29 January 2014
  17. ↑ Bath & North East Somerset Council. "Homelessness Partnership."
  18. ↑ Inside Housing. "Curo inks £75m deal for new funding." Archived 2014-02-22 at the Wayback Machine.
  19. ↑ "HCA assessment of Curo" (PDF).
  20. ↑ HCA Regulatory Judgement on Curo Group (Albion) Limited - LH4336 (PDF) (Report). Homes and Communities Agency. May 2016. Retrieved 20 February 2017.
  21. ↑ Tim MacFarlan (29 August 2016). "Housing association Curo appoint Liz Potter as non-executive director and chair designate". Bath Chronicle. Retrieved 20 February 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.