Octavia claim to help thousands of people in London live happily, independently and with the care they need. Their work covers three areas: Homes, they build homes, manage homes and provide affordable homes for people who need them. Founded by Victorian philanthropist Octavia Hill, they believe good homes make for better lives. So they go out of our way to create spaces people will thrive in. Octavia Housing owns around 5,200 units across central and west London
SH Narrative Regulatory Judgement
Provider: Octavia Housing
Regulatory code: L0717
Publication date: 24 November 2021
Governance grade: G1
Viability grade: V2
Reason for publication: Changed basis for viability grade
Regulatory route: In Depth Assessment
This regulatory judgement confirms the regulator’s previous published assessment of Octavia Housing’s governance and viability grades (G1/V2), following completion of an In Depth Assessment (IDA).
Based on evidence gained from the IDA, the regulator has assurance that Octavia Housing continues to comply with the financial viability elements of the Governance and Financial Viability Standard and can deal with a reasonable range of adverse scenarios. Its financial plans are consistent with, and support, its financial strategy. Octavia Housing has an adequately funded business plan, sufficient security and is forecast to continue to meet its financial covenants.
Octavia Housing continues to have material financial risks that it needs to manage. An increase in debt and significant building safety costs have negatively impacted financial performance, and there is potential for forecast costs to increase once work to determine stock investment needs has been completed. In addition, the plan is reliant on the successful delivery of further efficiencies from the provider’s modernisation programme.
The regulator’s assessment of Octavia Housing’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. Based on the evidence gained from the IDA, the regulator has assurance that Octavia Housing’s governance arrangements enable it to adequately control the organisation and to continue meeting its objectives.
Other providers included in the judgement
None
About the provider
Origins
Octavia Housing is a traditional housing provider which is registered as a community benefit society. The group’s main activities are the development and management of social housing, including care and support.
Registered Entities
Octavia Housing is the only registered entity in the group.
Unregistered Entities
There are four unregistered entities in the group:
Octavia Living Limited, a private limited company which owns and develops homes for open market sale on behalf of the group;
Octavia Development Services Limited, a private limited company which provides development services to the group;
Octavia Foundation, a charitable company limited by guarantee, established for the benefit of the residents of Octavia Housing and the local community; and
Octavia Hill Limited, which is dormant.
Geographic Spread and Scale
Octavia Housing owns around 5,200 units across central and west London.
Staffing and Turnover
For the year ending 31 March 2021 Octavia Housing’s turnover was £54.9m. It employed 382 full-time equivalent staff.
Development
Octavia Housing plans to deliver around 740 homes between 2021 and 2028, most of which will be for social rent and shared ownership.
Housing Ombudsman
REPORT COMPLAINT 202001154 Octavia Housing 21 January 2021 Our approach The Housing Ombudsman’s approach to investigating and determining complaints is to decide what is fair in all the circumstances of the […]
The complaint is about: The landlord’s response to the resident’s reports of noise disturbance from a neighbouring property; The landlord’s response to the resident’s reports of damage caused to the property by works carried out at a neighbouring property; The landlord’s handling of repairs to the resident’s boiler; and The landlord’s handling of communal repairs and maintenance, including to the communal entrance door lock and the use of scaffolding.
REPORT COMPLAINT 201913343 Octavia Housing 14 April 2021 Our approach The Housing Ombudsman’s approach to investigating and determining complaints is to decide what is fair in all the circumstances of the case. This is set […]
This complaint is about the landlord’s response to the resident’s reports and concerns about: Noise-related anti-social behaviour (‘ASB’) by a neighbour. Use of chemicals by the neighbour when cleaning in the communal hallway.
The complaint is about the landlord’s response to the residents’ reports about: The landlord’s response to the resident’s request to repair the shower rail and the operative’s behaviour. The landlord’s complaint handling.
The resident complains about; a delayed repair to a window and the landlord’s subsequent offer of compensation; the landlord’s response to her concerns about bullying by a contractor, and; complaint handling.
The resident is unhappy with the landlord’s response to their complaint regarding works on their property, damage to their garden, pest control and communication problems.
The complaint concerns the landlord’s handling of the resident’s: transfer application and property offer. reports of mould and damp at the property. request for compensation for damage to her personal items caused by the mould and damp. formal complaint regarding these matters.