The steps we need to take

SW9 is now taking the first steps on a journey that we hope will give you (both tenants and leaseholders) the choice in whether we should become your independent, community-based housing provider. The process is quite complex and a full breakdown can be found below.

If it is found that:

  • SW9 can be a viable independent housing provider
  • SW9 can raise the funds necessary to purchase Stockwell Park and street properties on reasonable commercial terms from Network Homes
  • SW9’s application for registration by the Regulator for Social Housing is successful
  • SW9 can reach agreement with Network Homes to become independent

Then there is one important thing to know - the ultimate decision will be yours, as you will be asked to vote on the matter.

Date

The step we need to take

March 2021

SW9 and Network Homes jointly appointed consultants (JLL) to value the estate and street properties.

SW9 and Network Homes jointly commissioned consultants (DDP) to:

  • Assess the feasibility of SW9 to operate as an independent organisation (to inform a decision to ballot residents).
  • Obtain feedback from potential funders and the Regulator (to provide a formal view on the financial viability of the independence proposal).

March – August 2021

Consultants work upon the Valuation and Feasibility  Reports. This may involve a visit to (and survey of) your home.

August 2021

Delivery of the Valuation and Feasibility Reports to SW9 and Network Homes.

August – December 2021

SW9 to complete production of its business plan with a 30-year financial model. The SW9 Board will use this and the Valuation and Feasibility Reports to make its decision about whether to ballot residents on the question of independence.  

31 December 2021

The SW9 Board will formally notify Network Homes of its decision about whether it will ask residents to vote in favour of independence. Network Homes will then make a decision on whether to approve this.

If the SW9 Board decides to ballot residents on the question of independence (and Network Homes agrees):

January 2022

SW9 will appoint an Independent Resident Advocate/Advisor (e.g. Open Communities).

January – April 2022

SW9 will consult widely to understand the community’s aspirations for an independent organisation.

April 2022

SW9 will produce an offer document which explains the benefits to residents of voting “Yes” in favour of independence.

May – July 2022

SW9 will carry out further consultation with residents and stakeholders on the offer/benefits being proposed.

July 2022

A ballot will take place of SW9 residents (both tenants and leaseholders) asking for your vote on the question of independence, either:

In favour ‘Yes’ or Not in favour ‘No’.

If residents vote ‘Yes’  in favour of independence:

September 2022 – March 2024

There will be a ‘Stock Transfer Process’ between Network Homes and SW9, subject to the approval of the Regulator of Social Housing.

April 2024

SW9 Community Housing will become an independent organisation.

Please note that some dates may be impacted by national COVID restrictions.