• CENTRAL and Cecil Housing Association have surprised residents of Oldfield estate, Primrose Hill, with a letter informing them that C&C are preparing to merge with Aster Housing Association, a large organisation based in the south west of England.

Aster HA, developer and landlord, and have no properties which function as sheltered housing schemes. They intend to sell debt to investors to raise money in order to build 12,000 new homes, 700 of which will be “affordable”.

Surely C&C must be aware that this whole deal puts Oldfield Estate and their other properties in a precarious position and shows a total lack of consideration for tenants’ security and wellbeing?

There are endless tales of “affordable housing” being dropped from building schemes and most investors are venture capitalists who would be only too happy to get their hands on prime sites in London.

The merger is due to take place this autumn so C&C have been organising this throughout the pandemic and are already listed on Aster’s website.

This gives residents very little time to raise any objections against the deal which shows utter disrespect for those who rely on the secure home they now enjoy and which they may lose.

There has been no proper consultation and no proper explanation of the real financial and legal implications of the merger. Many other HAs have looked at similar merger deals and have decided against them. C&C need to do the same.

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