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Large national landlord to become member of G15 following merger
Riverside is set to become a member of the G15 in April following its full merger with One Housing.
Once the new 75,000-home landlord is fully merged at the end of March, with One Housing folding into Riverside rather than existing as a separate subsidiary, it will join the network of large London landlords.
G15 landlord One Housing officially became a part of Riverside on 1 December last year in a tie-up that created a 75,000-home association.
The announcement for the merger initially said that One Housing would remain a subsidiary of Riverside for two years before folding into the bigger organisation, with the enlarged association eventually having one executive team and board.
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However, Riverside told Inside Housing in November that the landlords had decided to speed up the process over “economic uncertainty” in November.
At the time, a spokesperson for Riverside said: “In December 2021, One Housing joined the Riverside Group as a subsidiary, with a view to full integration after two years.
“The housing sector has faced real challenges in the past few years, but with even more economic uncertainty, as a precautionary measure, the One Housing board initiated talks to accelerate legal integration.
“The Riverside board agreed with this approach and, as a result, One Housing will legally become part of Riverside one year earlier than initially intended.”
The landlord said it took the decision so it could provide additional protection to its customers and services under the financial resilience of Riverside.
G15 confirmed to Inside Housing that Riverside will join as a member from April after One Housing folds into the association, bringing the total number of homes the group is responsible for to 770,000.
It said Riverside has a long-standing connection to London through the homes it provides in the capital and wider South East, in addition to the 17,000 homes currently managed by One Housing.
The G15 is a network of large housing associations that exists to share policy and practice, as well as engage with central and local governments.
