Concept Housing Association must prepare a plan to protect tenants if it has to wind down, England’s social-housing regulator disclosed on October 15 after concluding that years of intervention had failed to resolve its governance and financial problems.
The requirement is contained in an enforcement notice dated October 8 and published a week later. It does not itself close the housing association or order tenants to leave.
The Regulator of Social Housing said Concept’s financial position had deteriorated significantly in recent months. It cited weak business planning, inadequate risk management and overdue accounts, and said the provider had not shown that its dealings with outside organisations were appropriate.
The notice requires an insolvency practitioner to help prepare a timed wind-down plan, with tenant protection at its centre. That plan and an independent review of board and executive capability are due within 28 calendar days of the notice’s date.
Concept must also produce evidence and independent assurance that it is meeting landlord health and safety duties. A separate requirement addresses rent-setting compliance for its London intermediate-market-rent homes, unless those units are divested within the specified period.
The regulator has given the association 90 calendar days to submit an appraisal of its options and a credible improvement plan. While the notice remains in place, Concept must engage with the regulator before agreeing to own or manage additional properties.
Registered providers can appeal enforcement notices to the High Court within the statutory period. The regulator warned that non-compliance could bring further action.
In a separate development announced alongside the Concept action, Hexagon Housing Association was placed under investigation over possible serious governance and financial-viability failings. Its grading is under review; the regulator has not yet issued the investigation’s final judgment.
The published enforcement notice sets out Concept’s requirements and appeal rights.
