Islington Tribune - News: Tenants reasured over landlord switch

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Islington Tribune - by PETER GRUNER
Published: 11 January 2008

Tenants reassured over landlord switch

HUNDREDS of tenants in Islington are waiting to hear who their new landlord will be after receivers took control of a housing association.
Council leaders are in urgent talks with London & Quadrant Housing Trust, which is in line to take over homes owned by housing association Ujima, which encountered financial difficulties at the end of last year.
Ujima manages 285 homes in Islington, specialising in housing people from black and minority ethnic groups. It has been placed under the supervision of government regulator the Housing Corporation, which will decide who should take over its properties.
Ujima’s managing director Cedric Boston refused to disclose how much its property in Islington is worth, but it is known the company’s London-wide portfolio is valued at about £1 billion.
A Housing Corporation statement said Ujima was “in default of all its loans”.
Just before Christmas, shareholders rejected proposals to let housing association London & Quadrant take control of Ujima’s holdings but the Housing Corporation is hoping to use special powers under the Housing Act to overrule this. A decision will be made later this month.
Islington Council is monitoring the situation to ensure Ujima tenants in the borough are kept informed of any changes.
Lib Dem housing chief Councillor Terry Stacy has assured residents that they will remain unaffected.
He said: “The last thing we want to see are more Ujima houses being sold off to private property developers and being lost to the social sector without good reason.
“L&Q has a good history as a landlord, and a proven track record at taking over other troubled housing associations, so I am confident this can be made to work for Ujima residents in Islington. We want to ensure residents receive a high-quality service, and that they are kept fully informed of developments.”
A Ujima spokesman said: “Although not required to do so by the terms of the Housing Corporation’s proposal, London & Quadrant has stated that, if the transfer of Ujima is approved, then it will establish the Ujima Foundation.” This would fund work on black and minority ethnic issues, including mental health.

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