Posted on 21 July 2016
Residents of 721 homes from across Hampshire have been welcomed into The Hyde Group following a stock swap with Sovereign Housing Association this month. In return 719 homes were transferred into the ownership of Sovereign Housing Association from The Hyde Group.
The stock swap will enable both organisations to improve local services for residents in areas where both organisations have a significant presence already.
Residents were consulted on the transfer earlier this year and have seen no changes to their tenancy agreements or rights. The exchange was subject to approval from the Homes and Communities Agency (HCA), which has now been received.
David Gannicott, Group Business Development Director for The Hyde Group, said: “We are delighted to welcome all of our new residents in to the Hyde family. By rationalising the number of homes and improving efficiencies in areas where we are already based, we will be able to improve services further and reinvest to build more new homes. Stock swaps are difficult transactions to get over the line so completion is a real testament to the skills and tenacity of the teams in Hyde and Sovereign.”
Heather Bowman, Executive Director, Housing and Communities at Sovereign, said: ‘This swap is just one part of our wider plans to make us even more efficient and effective, making sure our homes and services have the greatest impact in a tighter geographical area.
“We’re looking forward to working with all our new residents, providing them with improved local services and support. And while it was a difficult decision to leave some communities where we’ve worked for many years, we know that Hyde will carry on providing residents with a quality service.”