Their housing stock is mainly in the London boroughs of Barnet, Camden, Enfield, Hackney, Haringey, Islington, Newham, Tower Hamlets and the City of Westminster, as well as in Berkshire.
… Whilst the group has recently been successful in delivering planned outcomes and its financial position has improved, the regulator needs further assurance that the level of oversight by the board is of the standard necessary to ensure this continues.
They noted that the main risks were now financial, with a plan that is highly dependent on sales receipts from house building.
OHG does have a recent track record of successful sales programmes however, given the significant future cash flows involved in this area of activity alongside limited headroom on the main gearing covenant, risks relating to liquidity management and covenant compliance will need to continue to be effectively monitored and controlled.
Toynbee specifically promised that governance arrangement in its Offer Document to tenants, and there is little doubt it played a massive part in securing its majority in the ballot.
Some local residents objected, in part because of the promises made at the time of the stock transfer, and wrote to the housing minister asking him to block the changes[8] saying "OHG has, in effect stolen the right of Island Homes to govern themselves… We ask you to intervene and suspend the merger process.
Most would be sold on the open market, "with “high earning financial sector workers” named as potential buyers.
As a result of a petition highlighting a loss of trust between residents and OHG, Tower Hamlets withdrew their "preferred partnership" status from One Housing.
[10] A group of 18 tenants facing eviction from four joined Victorian terraces in Islington Park Street took their complaints to Twitter and local media in 2015.
A Unite spokesperson accused One Housing of being "an incredibly bad employer", which had cut wages of employees while increasing the salary of their CEO.
[14] A 2012 investigation by the Independent and Corporate Watch found that "people with a history of mental health problems are being excluded from the social housing built there while the developers and local council have also set quotas for the number of homeless and unemployed people" at King's Cross Central's 500 social housing units.