Loomio
Tue 19 Jan 2021

Help with possible asset stripping of a housing co-op

WR Will Roper Public Seen by 75

I realise this isn't directly worker co-op related, but I suspect there might be folk here who can help. If it's too off topic then please let me know and we can close the thread.

There's a long standing women's housing co-op in Edinburgh called Stanley Road or Auchinleck Housing Co-operative, and the house has been put on the market for just shy of £1,000,000. The process around this has been really opaque and there is a group of ex-members who suspect that the proceeds of the sale are going to be taken out of the co-operative movement and used by the existing members to buy individual properties that may not be owned by the existing co-op or a new one.

I believe they've notified the FCA, and have got in touch with Radical Routes, but I thought there might be someone here who had experience of something similar (I'm sure it must've happened before) and might be able to advise on what options there are to either stop the sale, or at least keep the proceeds within the co-op movement.

If you think you could help please let me know and I'll put you in touch.

Many thanks,

Will

WR

Will Roper Tue 19 Jan 2021

Here's a facebook group here to try and drum up wider support.

JG

John Goodman Wed 20 Jan 2021

Have you approached CCH (Confederation of Co-operative Housing)? Nic Bliss nic@cch.coop or Blase Lambert blase@cch.coop

WR

Will Roper Wed 20 Jan 2021

I don't believe so I'll pass those details on.
Thank you.