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Council Supports Yorkshire Coast Homes Merger

Yorkshire Coast Homes

Published by Alex Taylor at 10:30am 15th May 2018

Scarborough Borough Council has voted to support a merger between Yorkshire Coast Homes and Coast and Country Housing Association. 

The merger between YCH based in Scarborough and Redcar based CCH, would see approximately 16,000 extra homes being built according to the council. 

The borough council has had a 'golden share' in the company since it was set up in 2003, meaning it had 33.3% of the voting rights on the board.

However, despite YCH seeking support from the council, from today (Tuesday 15 May), Local Authority Influence Regulations 2017 mean that the authority has to give up its 'golden share' anyway, effectively rendering whatever the council decided pointless. 

But both YCH and Scarborough Borough Council have stressed the importance of going ahead with the vote to continue a good working relationship. 

Both YCH and CCH are working towards a completion date of Monday 1 October for the merger, when the former will convert its its legal status to a Community Benefit Society (CBS) and CCH will transfer its engagements to YCH. 

Councillor Bill Chatt said:

"The actual decision to merge has not been taken yet by Yorkshire Coast Home or Coast and Country which really makes it more confusing than where we are.

The proposal transfer date is in October this year and when that happens, we as a council won't have that 'golden share.'

It will be the boards of both those companies who make that decision, based upon financial and advice that they're given.

The council will not be able to veto that vote now. Yorkshire Coast Homes haven't been great at developing, they haven't done a lot of houses since 2003. 

Coast and Country on the other hand have done an awful lot of development.

They've done extra care units, adapted units for people with disabilities and they seem to be more keen in developing properties than Yorkshire Coast Homes. 

I think that's fairly where they are. Yorkshire Coast Homes should have developed more, the opportunity was there but it wasn't taken."

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