Wreking Housing provide over 13,000 homes for affordable rent and low cost home ownership across Shropshire, Staffordshire and Telford & Wrekin. Delivering innovative care solutions ranging from domiciliary care for the elderly to supported housing and care for adults with learning difficulties, as well as dementia nursing care. Channelling social investment to create jobs and promote economic growth, generating opportunities for people to gain employability skills, maximising the social value of our services and delivering wider community benefits.
Wreking Housing are one of the largest social housing providers in the West Midlands we were established in 1999 following a large scale voluntary transfer of housing stock from Telford and Wrekin Council. The evolution of their care provision can be traced back to the early 1990s following a reorganisation of services in Staffordshire.
Wreking Housing housing stock and other services cover rural and town locations and includes everything from apartments in well-established residential areas and family homes in both rural and town locations to supported housing and extra care accommodation across the two counties.
Wreking Housing customers are served by a network of area offices, retail premises and other locations in Telford, across Shropshire and in Stafford. Housing customers also benefit from a full repairs and maintenance service offered by their award winning maintenance teams and in-house gas team.
Wreking Housing work in partnership with their customers, involving them in decisions about our operations, management and services. This enables them to continuously improve performance and make sure that we provide customers with high quality services.
RSH Narrative Regulatory Judgement
Provider: The Wrekin Housing Group Limited
Regulatory code: LH4220
Publication date: 15 November 2022
Governance grade: G1
Viability grade: V2
Reason for publication: Viability regrade
Regulatory route: Stability Check and Reactive Engagement
Regulatory judgement
This regulatory judgement regrades our previous published assessment of The Wrekin Housing Group Limited’s viability from V1 to V2 and confirms its G1 grade for governance.
The regulator has assurance that The Wrekin Housing Group Limited (Wrekin) complies with the financial viability elements of the Governance and Financial Viability Standard and that its financial plans are consistent with, and support, its financial strategy. Wrekin has an adequately funded business plan, sufficient security and is forecast to continue to meet its financial covenants.
Wrekin’s business plan includes increased development costs and additional investment in its existing homes. In combination with the current economic uncertainty in relation to inflation and interest rates, this reduces its capacity to deal with downside risk and increases the importance of fixed asset sales in maintaining covenant compliance.
The regulator’s assessment of Wrekin’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. On the basis of the Stability Check, the regulator has concluded that there is no evidence to indicate a change to Wrekin’s current governance grading.
Other providers included in the judgement
Choices Housing Association Limited
Housing Ombudsman