A social housing provider owned by Bury council is to be wound up.
Six Town Housing (STH) was previously the council’s arms length management company, which controlled most of the borough’s social housing stock.
In February 2024, the council took back control of the vast majority of social homes in the borough from STH. placing them under its in house management.
However, the organisation remained a wholly owned subsidiary company of the council, still owning and managing 149 specialist properties for social rent.
A strategic review of STH was commissioned by the council which has concluded ‘the current STH governance arrangements put both it and the council at regulatory and reputational risk’.
It was described as ‘unviable in its current state ‘ and required ‘a disproportionate level of senior leadership time and governance management to deliver the very small social housing stock it provides’.
Recommendations set to be agreed by the council cabinet this week will lead to the de-registering of Six Town from the regulator of social housing, closing the company completely, with individual assets either transferred into the council or sold to a third party.
STH no longer has any paid staff, is managed solely by its board and therefore currently relies on Bury council to manage its social housing.
The process to close STH is expected to take 18 months and will cost the council around £500,000.
A report to the cabinet, said: “Managing specialist accommodation is not the council’s expertise whereas other local providers are well placed.
“A suitable new landlord must be selected for each asset within the remaining STH portfolio, whether returning to the Bury housing revenue account, divesting of an individual asset, or ending lease agreements.
“The impact of the closure on current tenants is the upmost priority.
“Throughout the process the tenants will be considered and consulted.”
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