Poplar HARCA creates opportunity. Poplar HARCA are a Housing & Regeneration Community Association operating in East London. Poplar HARCA have a hard-won international reputation for innovation, and are recognised for award-winning services delivered by award-winning people. Today, Poplar HARCA own and manage over 9,000 homes and, with partners, they are leading a £2.5bn place-shaping programme including new homes, education, healthcare, faith buildings, business and community spaces.
Poplar HARCA invest around £4m each year in community regeneration. That means helping people into work and training, providing state of the art creative spaces for young people, initiatives to improve health and wellbeing, events, networking and affordable workspace.
Poplar HARCA are a proud reflection of our East London community, and over a third of our 350 employees live locally.
RSH Narrative Regulatory Judgement
Provider: Poplar Housing and Regeneration Community Association Limited
Regulatory code: L4170
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 Poplar Housing and Regeneration Community Association Limited’s (Poplar HARCA) financial viability and governance grades (G1/V2), following completion of an In Depth Assessment (IDA).
Based on evidence gained from the IDA, the regulator has assurance that Poplar HARCA 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. Poplar HARCA’s financial plans are consistent with, and support, its financial strategy. It has an adequately funded business plan, sufficient security and is forecast to continue to meet its financial covenants.
Poplar HARCA continues to have material financial risks that it needs to manage to maintain compliance. Forecast earnings from its core social housing lettings business are not sufficient on their own to cover interest payments over the medium term. In addition, increased expenditure on major repairs negatively impacts forecast performance, although elements of this are excluded from loan covenants until 2023.
Open market sales, delivered primarily through joint ventures, represent a large proportion of Poplar HARCA’s overall business activity and introduce a significant exposure to the housing market, forecast to peak in 2023. In addition, Poplar HARCA is reliant on fixed asset disposals and shared ownership sales to support its liquidity position.
The regulator’s assessment of Poplar HARCA’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 Poplar HARCA’s governance arrangements enable it to adequately control the organisation and to continue meeting its objectives.
Housing Ombudsman
Poplar Housing And Regeneration Community Association Limited (202011305)
The resident complains about the garden fence that the landlord provided, its subsequent decision not to replace this with the same type that had been provided to neighbours, and its communication with her when she raised these concerns.
Poplar Housing And Regeneration Community Association Limited (201910835)
The complaint is about the level of compensation awarded by the landlord in respect of delays in repairs and damaged personal effects.
Poplar Housing And Regeneration Community Association Limited (202008662)
The resident complains about: How the landlord handled her request for rehousing on medical grounds, including its communication and the time taken for her to be rehoused. How the landlord responded to her reports that dust from a neighbouring development was entering the property and affecting the health of her and her family.
Poplar Housing And Regeneration Community Association Limited (202100940)
The complaint is about the landlord’s handling of works required at the property, specifically, the resident is dissatisfied with delay to carrying out works regarding a kitchen fan and the landlord’s communication around this. The complaint is also about the landlord’s complaint handling.