Notting Hill Genesis

Notting Hill Housing (NHH) was a social enterprise and registered charity providing affordable housing for Londoners. In 1963, Bruce Kenrick moved to Notting Hill and was shocked at the poor quality of housing that people were forced to live in. He began a fundraising drive, with the aim to raise enough money to buy one home to house several homeless families. As Michael White has written: "Its first fundraiser was a stall on the Portobello Road market which raised £24. But Kenrick, a man of charismatic energy, which alternated with bouts of sometimes severe depression, learned quickly. Backed by clerical allies such Donald Mason, Geoffrey Ainger and Ken Bartlett, and concerned local people such as Sidney Miller and Pansy Jeffrey, the Trust's first advert – placed in The Guardian – raised £20,000. It was unprecedented."[2] Notting Hill Housing Trust was born, and in its first year it bought five houses and housed 57 people. Within five years, it became a large presence in west London, housing nearly 1,000 people.[3]

John Coward, who joined the Trust in 1965, was the first employee and then the first Chief Executive.[4] When he started, it had five properties; when he retired 21 years later, it was managing almost 8,000. The Trust raised funds from the public to buy dilapidated properties at auction. By renovating these houses to provide decent, affordable rented housing, it meant that some poor residents were not pushed out of the area.

Over the years it has taken over various smaller housing associations, including three in 2009: Presentation, Croydon Peoples and Pathway, which took its housing stock to 25,000.[5]

Housing associations finance acquisitions and major repairs by borrowing, secured on their housing properties. In 2012 NHH borrowed £250 million by a bond issue at a record low interest rate for the sector of 3.78 per cent.[6]

In 2013 NHH commemorated its 50th anniversary with a series of events and activities which involved former and current staff, residents, supporters and sector colleagues.[7]

On 28 April 2014 an agreement was signed with Southwark Council confirming NHH as the development partner for the regeneration of the Aylesbury Estate. The agreement commits the partnership to delivering a master plan for 3,500 new homes; 50% of these will be affordable homes, of which 75% will be for social rent and 25% for shared ownership or equity. A minimum of 30% across all tenures will have three bedrooms or more. Construction of the new homes will start in 2016, with the entire regeneration project expected to be finished in 2032.[8][9]

On 20 July 2017 it was announced that Notting Hill Housing have agreed a merger in principle with Genesis Housing Association[10] The merger was completed on 4 April 2018 to form Notting Hill Genesis.

Genesis Housing logo

Genesis Housing Association, known until May 2011 as Genesis Housing Group Ltd, was one of the largest developer housing associations in London. It was formed through the amalgamation of Paddington Churches Housing Association, Pathmeads and Springboard housing associations.[11][12] In 2017 they announced they will be merging with Notting Hill Housing to form Notting Hill Genesis.[13] The merger was completed in April 2018.

Genesis Housing Association managed around 33,000 homes across London and the south east, providing services to tens of thousands of people. It was formed by a merger in May 2011 of PCHA, Pathmeads and Springboard housing associations. They had for some years been managed as a corporate group, Genesis Housing Group. The group also includes Genesis Community, a charitable foundation, and Genesishomes which provides shared ownership properties.[14]

PCHA was founded over 40 years earlier as Paddington Churches Housing Association, and managed more than 11,500 homes.[15]

Pathmeads was formed in 2001 as a rescue vehicle for West Hampstead Housing Association, which had overextended its temporary housing operation.[16][17] In 2011 it had over 21,000 managed homes.[15]

Springboard provided management services to around 6,000 homes and another rescued association, St Matthew Housing.[17] Eastwards Trust was also a subsidiary of Springboard.[15]

Neil Hadden was appointed as Chief Executive in 2009. He succeeded Mr Anu Vedi CBE, who had led the group for ten years, through its growth from 10,000 to over 38,000 homes.[18]

The current Chairman of the Board of Trustees is Dipesh Shah OBE, who has had a diverse executive career in the energy sector.[19] He replaced Charles Gurassa in 2017.[20]

As of 2016, stock owned and managed totals 32,139. The highest proportions of stock were based in the London boroughs of Barnet, Brent, Camden and the City of Westminster.[21]

From 2005 to 2007, Genesis spent £200 million on its land bank for new developments. As the late-2000s financial crisis developed, Genesis wrote off around £6 million from asset values in its balance sheet each year from 2008 to 2010, but in 2011 this entry in its accounts increased to £20 million – a third of the total impairment booked by all housing associations in the year.[22]

Genesis strengthened its financial position by raising its first own-name bond issue for £200 million in 2010.[23] It rationalised its asset holdings, selling its 40% interest in a portfolio of 1,650 properties in central London to Grainger plc for £15m in 2011.[24]

In August 2015 Genesis controversially announced that it would no longer be building homes for social rent and would now bring the rents of its existing stock into line with affordable and market rental rates as they become vacant.[25]

Genesis won the top prize for social housing at the Daily Telegraph British Homes Awards 2011 for the first phase of new homes at Woodberry Down.[26]