Civitas Social Housing appoints Alison Hadden to its board – The board of Civitas Social Housing (CSH) has announced the appointment of Alison Hadden as an independent non-executive director of the company.
CSH note that Alison brings a depth of experience within social housing and local government, having started her career at Dudley Metropolitan Borough Council and Birmingham City Council. She then went on to hold chief executive positions at several major housing associations, including Paradigm Housing, a 13,000-home housing association based in Buckinghamshire.
They add that Alison has also been an executive director at Circle Housing, one of the largest housing associations in the UK with over 67,000 homes. In these roles she has worked with many of the stakeholders in the industry, including the Regulator of Social Housing.
Alison is currently chair of Housing Plus Group, an 18,000-home housing association group in Staffordshire and Shropshire, and a non-executive director and member of the audit and risk committee of Yorkshire Housing, a 20,000-home housing association operating in the Yorkshire area.
About Civitas Social Housing
CSH aims to provide its shareholders with an attractive level of income, together with the potential for capital growth from investing in a portfolio of social homes. The homes will be let to local authorities or housing associations. They expect they’ll get inflation adjusted long-term leases or occupancy agreements with registered providers. This, they think, will allow them to deliver, on a fully invested and geared basis, a targeted dividend yield of 5% on the issue price, which they expect will increase broadly in line with inflation.
Civitas works in partnership with Housing Associations and Local Authorities (together “Registered Providers” ) to help them unlock capital held in existing social homes for new development and to promote the delivery of new social homes. Civitas does not develop or manage social homes directly but works in close collaboration with Registered Providers and others who provide these services.
Civitas’ investment activity supports housing providers with the provision of permanent capital to facilitate their objective of delivering more social homes and offers investors the potential for sensible, risk adjusted real returns with regular dividend distributions.
The Civitas team has, over many years, been responsible for managing some of the larger portfolios of social homes in England and Wales as well as building many new social homes.
We have published some notes that explain how the fund works –
- “Targeting full dividend cover“, published in September 2019, looks at the beneficial impact of Civitas securing new borrowing facilities
- “Regulatory action is positive”, published in February 2019, looks at how regulations are benefiting CSH in the medium term by enhancing the quality of its earnings
- “Socially beneficial investing”, published in June 2018, describes how CSH is not only a great investment but a clear benefit for society
You can access the company’s website here
CSH: Civitas Social Housing appoints Alison Hadden to its board