Transfer To The Peabody Trust
The Housing Corporation instigated a standard (statutory) inquiry into the affairs of the Clays Lane Co-operative in 2000, and subsequently received a report of poor management of the Co-operative's affairs from the Audit Commission.The report was the result of an Audit Commission Inspection and which resulted in the Co-op receiving a judgement of zero stars and poor prospects for improvement. Under the Audit Commission inspection regime, this was the minimum,base, and worst possible, result for any housing provider. One of the report's most worrying findings was that the Co-op had no written Allocations Policy, which meant that it was not clear how people secured a place there or who was actually living there. It proposed that the Co-operative’s housing stock be transferred to the Peabody Trust, one of the UK’s largest housing associations, because of its better financial security, and the Government approved the transfer.
The Clays Lane Co-operative appealed against the order, because as the Peabody Trust was not a co-operative they would lose their mutual status if the transfer were to go ahead. They proposed an alternative, whereby the homes be transferred to Tenants First, a mutual housing co-operative based in Scotland. The Housing Corporation rejected this alternative and again directed transfer to the Peabody Trust.
The cooperative called for a judicial review of the decision, but this was refused, with the court ruling in June 2003 that the housing should be sold to the Peabody Trust. In August 2005 the estate was statutorily transferred to the Peabody Trust, and was subsequently managed by Waltham Forest Community Based Housing Association.
Read more about this topic: Clays Lane Estate
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